Alpha DNA Investment Management LLC Purchases New Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Alpha DNA Investment Management LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 3,315 shares of the semiconductor company’s stock, valued at approximately $412,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in shares of Cirrus Logic by 741.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after purchasing an additional 24,454 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Cirrus Logic by 48.4% during the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock valued at $4,156,000 after purchasing an additional 10,919 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at approximately $1,752,000. Finally, Lecap Asset Management Ltd. grew its holdings in shares of Cirrus Logic by 316.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 17,009 shares of the semiconductor company’s stock valued at $2,113,000 after purchasing an additional 12,922 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $104.82 on Monday. The company has a market capitalization of $5.57 billion, a P/E ratio of 17.77 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $74.83 and a 52-week high of $147.46. The company’s 50 day moving average price is $115.66 and its 200-day moving average price is $123.51.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Cirrus Logic’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.43 EPS. Analysts forecast 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 commented on CRUS shares. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. StockNews.com downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. KeyCorp lifted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna lifted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus cut their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.50.

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.