Huntington National Bank Grows Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Huntington National Bank boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 10,500.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212 shares of the semiconductor company’s stock after purchasing an additional 210 shares during the period. Huntington National Bank’s holdings in Cirrus Logic were worth $26,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRUS. Nisa Investment Advisors LLC boosted its stake in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Cirrus Logic in the third quarter valued at about $31,000. Versant Capital Management Inc boosted its position in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic during the 2nd quarter valued at about $77,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

CRUS has been the topic of a number of research reports. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Finally, Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Stock Down 0.5 %

Shares of Cirrus Logic stock opened at $100.58 on Wednesday. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 17.05 and a beta of 0.96. The stock’s 50-day simple moving average is $117.59 and its 200-day simple moving average is $123.34. Cirrus Logic, Inc. has a 52 week low of $74.80 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS 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 for the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the previous year, the firm earned $1.43 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

About Cirrus Logic

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.