Captrust Financial Advisors Purchases 142 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Captrust Financial Advisors grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,838 shares of the semiconductor company’s stock after buying an additional 142 shares during the quarter. Captrust Financial Advisors’ holdings in Cirrus Logic were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Cirrus Logic by 18.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 4,104 shares of the semiconductor company’s stock valued at $524,000 after purchasing an additional 640 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Cirrus Logic by 0.9% during the second quarter. Assenagon Asset Management S.A. now owns 161,933 shares of the semiconductor company’s stock valued at $20,672,000 after buying an additional 1,452 shares during the last quarter. Blue Trust Inc. increased its holdings in Cirrus Logic by 23.7% in the 2nd quarter. Blue Trust Inc. now owns 4,392 shares of the semiconductor company’s stock worth $561,000 after buying an additional 841 shares in the last quarter. Raymond James & Associates raised its position in Cirrus Logic by 67.4% in the 2nd quarter. Raymond James & Associates now owns 22,540 shares of the semiconductor company’s stock worth $2,877,000 after buying an additional 9,075 shares during the last quarter. Finally, Fifth Third Bancorp lifted its stake in Cirrus Logic by 1.1% during the 2nd quarter. Fifth Third Bancorp now owns 25,913 shares of the semiconductor company’s stock valued at $3,308,000 after acquiring an additional 289 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRUS. Susquehanna increased their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Barclays dropped their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Stock Up 0.3 %

Shares of Cirrus Logic stock opened at $106.71 on Friday. Cirrus Logic, Inc. has a 52 week low of $75.92 and a 52 week high of $147.46. The stock’s 50-day simple moving average is $110.76 and its 200-day simple moving average is $122.77. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 18.09 and a beta of 0.93.

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. The company had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.43 EPS. 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.