MML Investors Services LLC Increases Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

MML Investors Services LLC increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 4,119 shares of the semiconductor company’s stock after buying an additional 212 shares during the quarter. MML Investors Services LLC’s holdings in Cirrus Logic were worth $512,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CRUS. Charles Schwab Investment Management Inc. grew its position in shares of Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after acquiring an additional 129,457 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Cirrus Logic by 741.0% during the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after purchasing an additional 24,454 shares during the period. Sheaff Brock Investment Advisors LLC purchased a new stake in Cirrus Logic in the third quarter worth $1,752,000. Finally, Raymond James & Associates increased its position in Cirrus Logic by 48.4% in the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after buying an additional 10,919 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $100.56 on Monday. The company’s 50 day simple moving average is $109.04 and its two-hundred day simple moving average is $122.38. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The stock has a market capitalization of $5.34 billion, a PE ratio of 17.04 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last issued 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 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 the consensus estimate of $520.53 million. During the same quarter last year, the business posted $1.43 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRUS. 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. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Barclays lowered their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Loop Capital initiated coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Company Profile

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.