Massachusetts Financial Services Co. MA Acquires 1,445 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Massachusetts Financial Services Co. MA raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 27,038 shares of the semiconductor company’s stock after buying an additional 1,445 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Cirrus Logic were worth $3,358,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Caprock Group LLC bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $306,000. Quest Partners LLC boosted its position in shares of Cirrus Logic by 67.4% during the third quarter. Quest Partners LLC now owns 5,466 shares of the semiconductor company’s stock valued at $679,000 after purchasing an additional 2,201 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of Cirrus Logic by 11.6% during the third quarter. Natixis Advisors LLC now owns 101,506 shares of the semiconductor company’s stock valued at $12,608,000 after purchasing an additional 10,579 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $1,752,000. Finally, Huntington National Bank boosted its position in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Price Performance

CRUS stock opened at $107.41 on Wednesday. Cirrus Logic, Inc. has a 1-year low of $74.83 and a 1-year high of $147.46. The business has a fifty day moving average price of $115.34 and a 200-day moving average price of $123.55. The stock has a market capitalization of $5.71 billion, a P/E ratio of 18.21 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share 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 firm had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. StockNews.com lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. KeyCorp lifted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus lowered their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.