Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 78.9% in the 3rd quarter, Holdings Channel reports. The fund owned 2,525 shares of the semiconductor company’s stock after selling 9,440 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Cirrus Logic were worth $313,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CRUS. Northwestern Mutual Wealth Management Co. boosted its holdings in Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in shares of Cirrus Logic by 741.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after buying an additional 24,454 shares in the last quarter. Raymond James & Associates grew its holdings in Cirrus Logic by 48.4% during the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after acquiring an additional 10,919 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new position in Cirrus Logic in the third quarter worth $1,752,000. Finally, Lecap Asset Management Ltd. raised its position in Cirrus Logic by 316.2% in the third quarter. Lecap Asset Management Ltd. now owns 17,009 shares of the semiconductor company’s stock worth $2,113,000 after acquiring an additional 12,922 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRUS. Barclays lowered their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. KeyCorp lifted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $107.41 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $74.83 and a 1 year high of $147.46. The business has a 50 day moving average price of $115.34 and a 200 day moving average price of $123.55. The company has a market capitalization of $5.71 billion, a P/E ratio of 18.21 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the previous year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.