Glenmede Trust Co. NA Buys 5,251 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Glenmede Trust Co. NA increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,570 shares of the semiconductor company’s stock after acquiring an additional 5,251 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.25% of Cirrus Logic worth $16,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Huntington National Bank boosted its stake in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the period. Nisa Investment Advisors LLC grew its holdings in 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 acquiring an additional 120 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic in the third quarter valued at about $31,000. Versant Capital Management Inc increased its position 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 valued at $46,000 after acquiring an additional 344 shares during the period. Finally, GAMMA Investing LLC raised its stake 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 acquiring an additional 210 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Down 1.8 %

Shares of Cirrus Logic stock opened at $105.52 on Friday. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The firm has a market capitalization of $5.61 billion, a P/E ratio of 17.88 and a beta of 0.96. The business has a fifty day simple moving average of $114.66 and a two-hundred day simple moving average of $123.43.

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, beating analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Cirrus Logic’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.43 EPS. Analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

CRUS has been the topic of a number of research analyst reports. Barclays reduced their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, KeyCorp upped their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic 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.