Venturi Wealth Management LLC Buys 334 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Venturi Wealth Management LLC grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 44.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,090 shares of the semiconductor company’s stock after acquiring an additional 334 shares during the quarter. Venturi Wealth Management LLC’s holdings in Cirrus Logic were worth $135,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CRUS. Nisa Investment Advisors LLC lifted its stake in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Versant Capital Management Inc grew its stake in shares of 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 acquiring an additional 344 shares during the period. GAMMA Investing LLC raised its holdings in shares of Cirrus Logic by 79.5% during the second 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 last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in Cirrus Logic during the second quarter valued at approximately $77,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Down 4.1 %

Cirrus Logic stock opened at $100.39 on Thursday. Cirrus Logic, Inc. has a 12-month low of $73.74 and a 12-month high of $147.46. The firm has a market capitalization of $5.33 billion, a price-to-earnings ratio of 17.02 and a beta of 0.96. The firm has a 50 day moving average of $120.23 and a 200 day moving average of $122.71.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays cut their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. KeyCorp increased their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna cut their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research note on Tuesday, November 5th. Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $131.67.

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.