Crossmark Global Holdings Inc. Acquires 4,294 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Crossmark Global Holdings Inc. lifted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 31,302 shares of the semiconductor company’s stock after purchasing an additional 4,294 shares during the period. Crossmark Global Holdings Inc. owned about 0.06% of Cirrus Logic worth $3,888,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in CRUS. Pacer Advisors Inc. grew 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 valued at $84,935,000 after buying an additional 657,288 shares during the last quarter. LSV Asset Management increased its stake in Cirrus Logic by 34.6% in the 2nd 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 period. Acadian Asset Management LLC lifted its position in Cirrus Logic by 68.6% in the first quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock valued at $42,619,000 after purchasing an additional 187,438 shares during the last quarter. DNB Asset Management AS purchased a new stake in shares of Cirrus Logic during the second quarter valued at approximately $23,250,000. Finally, Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $104.71 on Tuesday. The firm has a market capitalization of $5.56 billion, a P/E ratio of 17.75 and a beta of 0.96. The stock has a 50 day moving average price of $121.65 and a 200-day moving average price of $122.76. Cirrus Logic, Inc. has a 52-week low of $71.60 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data 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 business had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 earnings per share. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CRUS shares. Barclays dropped their price target on shares of 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. 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 note on Tuesday, November 5th. Susquehanna lowered their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research report on Tuesday, November 5th. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Insider Buying and Selling

In other news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by insiders.

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.