Allspring Global Investments Holdings LLC Has $3.15 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Allspring Global Investments Holdings LLC decreased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,759 shares of the semiconductor company’s stock after selling 8,021 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Cirrus Logic worth $3,148,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRUS. Inspire Investing LLC increased its holdings in shares of Cirrus Logic by 3.9% during the 2nd quarter. Inspire Investing LLC now owns 3,496 shares of the semiconductor company’s stock worth $254,000 after purchasing an additional 132 shares during the period. Parallel Advisors LLC increased its holdings in shares of Cirrus Logic by 50.0% during the 2nd quarter. Parallel Advisors LLC now owns 459 shares of the semiconductor company’s stock worth $33,000 after purchasing an additional 153 shares during the period. Securian Asset Management Inc. increased its holdings in shares of Cirrus Logic by 3.1% during the 2nd quarter. Securian Asset Management Inc. now owns 5,222 shares of the semiconductor company’s stock worth $379,000 after purchasing an additional 157 shares during the period. US Bancorp DE increased its holdings in shares of Cirrus Logic by 9.4% during the 2nd quarter. US Bancorp DE now owns 1,871 shares of the semiconductor company’s stock worth $135,000 after purchasing an additional 160 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Cirrus Logic by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 12,278 shares of the semiconductor company’s stock worth $891,000 after purchasing an additional 219 shares during the period. Institutional investors and hedge funds own 91.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CRUS shares. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Thursday, January 5th. Barclays dropped their price objective on shares of Cirrus Logic from $90.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, November 17th. KeyCorp upped their target price on shares of Cirrus Logic from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Needham & Company LLC upped their target price on shares of Cirrus Logic from $73.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, November 2nd. Finally, Benchmark lowered their target price on shares of Cirrus Logic from $95.00 to $86.00 in a research note on Wednesday, November 2nd. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $97.33.

Cirrus Logic Trading Up 0.9 %

Shares of Cirrus Logic stock opened at $85.66 on Wednesday. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 14.25, a P/E/G ratio of 5.05 and a beta of 0.96. Cirrus Logic, Inc. has a 1-year low of $61.94 and a 1-year high of $93.33. The firm’s 50-day moving average price is $76.36 and its two-hundred day moving average price is $75.67.

Cirrus Logic (NASDAQ:CRUSGet Rating) last issued its quarterly earnings data on Tuesday, November 1st. The semiconductor company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.45. The firm had revenue of $540.57 million for the quarter, compared to analysts’ expectations of $470.66 million. Cirrus Logic had a net margin of 17.79% and a return on equity of 23.97%. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 4.89 EPS for the current year.

About Cirrus Logic

(Get Rating)

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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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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