Pacer Advisors Inc. Grows Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Pacer Advisors Inc. lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 44.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,267,792 shares of the semiconductor company’s stock after purchasing an additional 387,346 shares during the period. Pacer Advisors Inc. owned 2.39% of Cirrus Logic worth $126,247,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of 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 acquiring an additional 120 shares during the period. V Square Quantitative Management LLC purchased a new stake in Cirrus Logic in the 3rd quarter worth about $31,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic in the 3rd quarter valued at about $35,000. Finally, Sound Income Strategies LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at about $46,000. Institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRUS shares. Susquehanna lifted their target price 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. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus reduced their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Barclays decreased 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Price Performance

CRUS opened at $101.41 on Monday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 17.19 and a beta of 0.92. Cirrus Logic, Inc. has a one year low of $75.92 and a one year high of $147.46. The company has a fifty day moving average price of $102.97 and a 200-day moving average price of $118.10.

Cirrus Logic (NASDAQ:CRUS) last posted 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 return on equity of 18.15% and a net margin of 17.19%. The business had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the previous year, the business earned $1.43 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share 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.