Fifth Third Bancorp lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 135.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,247 shares of the semiconductor company’s stock after acquiring an additional 9,933 shares during the period. Fifth Third Bancorp’s holdings in Cirrus Logic were worth $1,187,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of CRUS. Parallel Advisors LLC raised its holdings in Cirrus Logic by 50.0% in the second quarter. Parallel Advisors LLC now owns 459 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 153 shares during the period. Truvestments Capital LLC purchased a new position in Cirrus Logic in the second quarter valued at approximately $41,000. CoreCap Advisors LLC purchased a new position in Cirrus Logic in the second quarter valued at approximately $49,000. Janiczek Wealth Management LLC raised its holdings in Cirrus Logic by 93.5% in the third quarter. Janiczek Wealth Management LLC now owns 890 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 430 shares during the period. Finally, ACG Wealth purchased a new position in Cirrus Logic in the second quarter valued at approximately $73,000. 91.78% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have issued reports on CRUS. Benchmark lowered their price objective on shares of Cirrus Logic from $95.00 to $86.00 in a research report on Wednesday, November 2nd. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Thursday. Barclays lowered their price objective on shares of Cirrus Logic from $90.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, November 17th. KeyCorp lowered their price objective on shares of Cirrus Logic from $105.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday, December 9th. Finally, Needham & Company LLC increased their price objective on shares of Cirrus Logic from $73.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $96.22.
Cirrus Logic Trading Up 4.0 %
Cirrus Logic (NASDAQ:CRUS – Get Rating) last released its quarterly earnings data on Tuesday, November 1st. The semiconductor company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.45. The firm had revenue of $540.57 million during the quarter, compared to the consensus estimate of $470.66 million. Cirrus Logic had a net margin of 17.79% and a return on equity of 23.97%. On average, research analysts predict that Cirrus Logic, Inc. will post 4.92 EPS for the current year.
Cirrus Logic Profile
Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including 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 digital signal processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.
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