Sound Income Strategies LLC Takes $46,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 460 shares of the semiconductor company’s stock, valued at approximately $46,000.

A number of other hedge funds and other institutional 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 in the last quarter. Nisa Investment Advisors LLC raised 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 valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the 3rd quarter worth approximately $31,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic during the 3rd quarter worth approximately $35,000. Finally, Bartlett & CO. Wealth Management LLC increased its position in Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 200 shares during the period. Institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented 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 on the stock. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna increased their price target 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 cut their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus decreased their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $101.41 on Friday. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 17.19 and a beta of 0.92. The stock’s 50-day moving average is $102.97 and its 200 day moving average is $118.23. Cirrus Logic, Inc. has a one year low of $75.92 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted 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. The firm had revenue of $541.90 million for 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%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.43 EPS. On average, sell-side analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

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.