Meeder Asset Management Inc. Sells 6,863 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Meeder Asset Management Inc. reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 40.7% in the third quarter, Holdings Channel.com reports. The firm owned 9,996 shares of the semiconductor company’s stock after selling 6,863 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cirrus Logic were worth $1,242,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Cirrus Logic by 8,183.4% during the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after acquiring an additional 657,288 shares in the last quarter. LSV Asset Management lifted its stake in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after purchasing an additional 486,086 shares during the last quarter. DNB Asset Management AS purchased a new stake in Cirrus Logic during the second quarter valued at about $23,250,000. Vanguard Group Inc. grew its stake in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after buying an additional 128,393 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Cirrus Logic by 32.6% in the second quarter. AQR Capital Management LLC now owns 462,827 shares of the semiconductor company’s stock worth $59,084,000 after buying an additional 113,694 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of several recent research reports. Stifel Nicolaus reduced their price target 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. 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 on the stock. StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. KeyCorp raised their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Finally, Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Trading Down 0.5 %

NASDAQ:CRUS opened at $100.58 on Wednesday. Cirrus Logic, Inc. has a 12 month low of $74.80 and a 12 month high of $147.46. The company has a 50-day moving average price of $117.59 and a 200-day moving average price of $123.34. The stock has a market cap of $5.34 billion, a price-to-earnings ratio of 17.05 and a beta of 0.96.

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