Truvestments Capital LLC Has $478,000 Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Truvestments Capital LLC trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,848 shares of the semiconductor company’s stock after selling 811 shares during the period. Truvestments Capital LLC’s holdings in Cirrus Logic were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC lifted its holdings in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc raised its position in shares of Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after acquiring an additional 101 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of Cirrus Logic by 2.0% in the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares in the last quarter. Arkadios Wealth Advisors lifted its position in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after purchasing an additional 119 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 valued at $30,000 after purchasing an additional 120 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Up 3.8 %

CRUS stock opened at $108.82 on Tuesday. The firm has a 50 day moving average of $115.34 and a two-hundred day moving average of $123.55. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 18.44 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the prior year, the firm earned $1.43 earnings per share. Cirrus Logic’s revenue was up 12.6% compared to the same quarter last year. On average, research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CRUS has been the topic of several research reports. Loop Capital initiated coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective on the stock. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays lowered 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. KeyCorp boosted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

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.