Franklin Resources Inc. Acquires 62,757 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Franklin Resources Inc. increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 60.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,258 shares of the semiconductor company’s stock after acquiring an additional 62,757 shares during the quarter. Franklin Resources Inc. owned about 0.31% of Cirrus Logic worth $20,625,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. FMR LLC increased its holdings in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares during the period. LSV Asset Management increased its stake in Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after acquiring an additional 486,086 shares during the period. Earnest Partners LLC increased its stake in Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after acquiring an additional 39,759 shares during the period. Geode Capital Management LLC raised its holdings in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after acquiring an additional 50,582 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Cirrus Logic by 32.3% during the 3rd quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after purchasing an additional 215,126 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.5 %

Shares of CRUS stock opened at $100.16 on Friday. The firm has a market capitalization of $5.32 billion, a PE ratio of 16.98 and a beta of 0.93. The firm has a fifty day simple moving average of $109.42 and a two-hundred day simple moving average of $122.42. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46.

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

Wall Street Analyst Weigh In

CRUS has been the topic of a number of recent analyst reports. Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Barclays lowered their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital initiated coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Finally, Stifel Nicolaus lowered their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

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.