Truvestments Capital LLC Sells 811 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Truvestments Capital LLC decreased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,848 shares of the semiconductor company’s stock after selling 811 shares during the quarter. Truvestments Capital LLC’s holdings in Cirrus Logic were worth $478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Huntington National Bank boosted its holdings in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Cirrus Logic in the 3rd quarter valued at about $31,000. Versant Capital Management Inc grew its stake in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC raised 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 purchasing an additional 210 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Up 3.8 %

Shares of Cirrus Logic stock opened at $108.82 on Tuesday. Cirrus Logic, Inc. has a twelve month low of $74.83 and a twelve month high of $147.46. The business has a 50-day moving average price of $115.34 and a 200-day moving average price of $123.55. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of 18.44 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) 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 business had revenue of $541.90 million for the quarter, compared to analysts’ expectations of $520.53 million. During the same period in the prior year, the firm earned $1.43 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analysts Set New Price Targets

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