Alpha DNA Investment Management LLC Invests $412,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Alpha DNA Investment Management LLC bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,315 shares of the semiconductor company’s stock, valued at approximately $412,000.

A number of other large investors also recently modified their holdings of the stock. Huntington National Bank lifted its holdings 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 during the period. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% in the third 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 period. V Square Quantitative Management LLC acquired a new position in Cirrus Logic in the third quarter valued at approximately $31,000. Versant Capital Management Inc lifted its holdings in 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 buying an additional 344 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in 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 buying an additional 210 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRUS shares. Susquehanna increased their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. KeyCorp increased their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Loop Capital began coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Stifel Nicolaus lowered 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 note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Trading Up 2.2 %

Shares of CRUS opened at $104.82 on Monday. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The firm has a fifty day simple moving average of $115.66 and a 200 day simple moving average of $123.51. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 17.77 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate 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 quarter in the prior year, the company posted $1.43 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, research analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

About Cirrus Logic

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.