Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 45,122 shares of the semiconductor company’s stock after selling 5,395 shares during the period. Martingale Asset Management L P owned 0.08% of Cirrus Logic worth $5,605,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd purchased a new position in Cirrus Logic during the 1st quarter worth $278,000. Tidal Investments LLC purchased a new position in Cirrus Logic during the first quarter worth about $219,000. Comerica Bank raised its holdings in Cirrus Logic by 52.7% during the first quarter. Comerica Bank now owns 35,067 shares of the semiconductor company’s stock worth $3,246,000 after purchasing an additional 12,101 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Cirrus Logic by 139.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company’s stock worth $182,000 after purchasing an additional 1,162 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Down 1.0 %

Shares of Cirrus Logic stock opened at $104.45 on Friday. Cirrus Logic, Inc. has a 12-month low of $74.83 and a 12-month high of $147.46. The stock has a market cap of $5.55 billion, a PE ratio of 17.70 and a beta of 0.96. The company has a 50-day moving average of $114.27 and a two-hundred day moving average of $123.31.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share 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 business had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same period last year, the company posted $1.43 EPS. The company’s revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRUS. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. KeyCorp increased their price target 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. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Barclays dropped 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 report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and an average 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.