Caisse DE Depot ET Placement DU Quebec Buys Shares of 131,553 Cirrus Logic, Inc. (NASDAQ:CRUS)

Caisse DE Depot ET Placement DU Quebec bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 131,553 shares of the semiconductor company’s stock, valued at approximately $16,340,000. Caisse DE Depot ET Placement DU Quebec owned about 0.25% of Cirrus Logic as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Huntington National Bank grew its holdings 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 in the last quarter. Nisa Investment Advisors LLC grew 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 worth $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Cirrus Logic during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc grew its holdings 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 purchasing an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on CRUS. Barclays cut their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Susquehanna raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. 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 for the company. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus cut their target price 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. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Stock Performance

Shares of CRUS opened at $104.45 on Monday. The stock has a fifty day moving average price of $113.90 and a two-hundred day moving average price of $123.37. Cirrus Logic, Inc. has a 52-week low of $74.83 and a 52-week high of $147.46. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 17.70 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, beating the consensus estimate of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations 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 period last year, the firm earned $1.43 EPS. As a group, research analysts predict 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.