Hancock Whitney Corp Invests $898,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Hancock Whitney Corp bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,233 shares of the semiconductor company’s stock, valued at approximately $898,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Cirrus Logic during the 3rd quarter worth about $31,000. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CRUS. KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Stifel Nicolaus reduced their price target 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. Barclays dropped their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Finally, Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $107.41 on Wednesday. The business has a 50 day simple moving average of $115.34 and a 200-day simple moving average of $123.55. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The stock has a market capitalization of $5.71 billion, a PE ratio of 18.21 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released 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 company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter last year, the business earned $1.43 EPS. The business’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current 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.