Crossmark Global Holdings Inc. Grows Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Crossmark Global Holdings Inc. increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,695 shares of the semiconductor company’s stock after purchasing an additional 16,393 shares during the period. Crossmark Global Holdings Inc. owned 0.09% of Cirrus Logic worth $4,749,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after buying an additional 217,404 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Cirrus Logic by 3.0% in the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after buying an additional 39,759 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after buying an additional 50,582 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Cirrus Logic by 32.3% during the 3rd quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock valued at $109,360,000 after buying an additional 215,126 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRUS has been the subject of a number of research reports. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Loop Capital assumed coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Finally, Barclays decreased their price objective on 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $100.30 on Thursday. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The firm has a 50-day simple moving average of $102.96 and a two-hundred day simple moving average of $118.67. The company has a market cap of $5.33 billion, a P/E ratio of 17.00 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results 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 firm had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. During the same period last year, the company earned $1.43 EPS. Cirrus Logic’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

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.