Alhambra Investment Management LLC Acquires Shares of 2,011 Cirrus Logic, Inc. (NASDAQ:CRUS)

Alhambra Investment Management LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,011 shares of the semiconductor company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Huntington National Bank raised its stake in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Cirrus Logic in the third quarter valued at approximately $31,000. Westside Investment Management Inc. purchased a new position in Cirrus Logic in the third quarter valued at approximately $35,000. Finally, GAMMA Investing LLC grew its position in shares of Cirrus Logic by 81.2% in the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company’s stock valued at $107,000 after buying an additional 385 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.1 %

Shares of CRUS stock opened at $101.00 on Friday. The stock has a 50 day simple moving average of $103.12 and a 200-day simple moving average of $119.34. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 17.12 and a beta of 0.92. Cirrus Logic, Inc. has a 12-month low of $75.92 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million during 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%. Cirrus Logic’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Barclays reduced 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. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus reduced their price objective 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, Loop Capital initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cirrus Logic has a consensus 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.