4,878 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Purchased by Petrus Trust Company LTA

Petrus Trust Company LTA purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,878 shares of the semiconductor company’s stock, valued at approximately $606,000.

Several other large investors have also recently added to or reduced their stakes in CRUS. Tidal Investments LLC purchased a new position in Cirrus Logic during the first quarter worth about $219,000. Comerica Bank grew its position in shares of Cirrus Logic by 52.7% in the first quarter. Comerica Bank now owns 35,067 shares of the semiconductor company’s stock valued at $3,246,000 after purchasing an additional 12,101 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Cirrus Logic by 139.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company’s stock valued at $182,000 after purchasing an additional 1,162 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the last quarter. Finally, CWM LLC boosted its position in Cirrus Logic by 75.1% during the second quarter. CWM LLC now owns 3,640 shares of the semiconductor company’s stock worth $465,000 after acquiring an additional 1,561 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of analyst reports. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday. KeyCorp raised their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. 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 research note on Monday, November 18th. Barclays cut their price target on shares of 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, Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.50.

Cirrus Logic Trading Down 1.8 %

Shares of CRUS stock opened at $103.70 on Thursday. The company’s fifty day simple moving average is $113.22 and its 200-day simple moving average is $123.39. Cirrus Logic, Inc. has a 52 week low of $75.80 and a 52 week high of $147.46. The company has a market cap of $5.51 billion, a PE ratio of 17.58 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business earned $1.43 EPS. Equities research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal 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.