Hancock Whitney Corp Acquires New Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Hancock Whitney Corp purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, HoldingsChannel.com reports. The firm purchased 7,233 shares of the semiconductor company’s stock, valued at approximately $898,000.

Other institutional investors also recently made changes to their positions in the company. Huntington National Bank boosted its holdings in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings 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 worth $30,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the 3rd quarter worth approximately $31,000. Versant Capital Management Inc lifted its position in Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 344 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Susquehanna lifted their target price 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. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Barclays lowered their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note 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, Stifel Nicolaus dropped their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Three equities research 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $107.41 on Wednesday. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 18.21 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The company’s fifty day moving average price is $115.34 and its two-hundred day moving average price is $123.55.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The business had revenue of $541.90 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the firm earned $1.43 earnings per share. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

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.