Sheaff Brock Investment Advisors LLC Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Sheaff Brock Investment Advisors LLC bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 14,109 shares of the semiconductor company’s stock, valued at approximately $1,752,000.

Several other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of Cirrus Logic in the first quarter valued at approximately $275,000. Russell Investments Group Ltd. increased its position in shares of Cirrus Logic by 10.6% during the first quarter. Russell Investments Group Ltd. now owns 152,321 shares of the semiconductor company’s stock worth $14,087,000 after purchasing an additional 14,656 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Cirrus Logic by 16.2% in the 1st quarter. ProShare Advisors LLC now owns 10,382 shares of the semiconductor company’s stock valued at $961,000 after acquiring an additional 1,450 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Cirrus Logic by 13.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after acquiring an additional 5,645 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Cirrus Logic by 9.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,444 shares of the semiconductor company’s stock valued at $776,000 after acquiring an additional 746 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Loop Capital started coverage on shares of Cirrus Logic in a report on Tuesday. They issued a “buy” rating and a $130.00 price target on the stock. Barclays lowered their price target 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 lowered their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a report on Tuesday, November 5th. Finally, KeyCorp upped their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $131.67.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $101.50 on Friday. The company has a 50 day simple moving average of $119.50 and a 200-day simple moving average of $122.57. The company has a market capitalization of $5.39 billion, a P/E ratio of 17.20 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $74.80 and a 1 year high of $147.46.

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, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter last year, the firm earned $1.43 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current 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.