Assetmark Inc. Has $366,000 Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Assetmark Inc. decreased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,945 shares of the semiconductor company’s stock after selling 108 shares during the quarter. Assetmark Inc.’s holdings in Cirrus Logic were worth $366,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in CRUS. Nisa Investment Advisors LLC lifted its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic in the third quarter worth approximately $31,000. Versant Capital Management Inc lifted its holdings in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC boosted its position in Cirrus Logic by 79.5% during the second 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. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $77,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS opened at $100.67 on Friday. The stock’s 50 day moving average price is $118.87 and its 200-day moving average price is $122.88. Cirrus Logic, Inc. has a 52-week low of $74.80 and a 52-week high of $147.46. The stock has a market capitalization of $5.35 billion, a PE ratio of 17.06 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. Research analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays dropped their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Susquehanna reduced their target price on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, KeyCorp upped their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.67.

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.