FORA Capital LLC Makes New $1.47 Million Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

FORA Capital LLC acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,819 shares of the semiconductor company’s stock, valued at approximately $1,468,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Stonegate Investment Group LLC increased its position in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc increased its position in shares of Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the period. Profund Advisors LLC increased its position in shares of Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares during the period. Arkadios Wealth Advisors increased its position in shares of Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 98.4% during the third 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 during the period. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $105.52 on Thursday. The firm has a market cap of $5.61 billion, a P/E ratio of 17.88 and a beta of 0.96. The business’s fifty day moving average is $115.01 and its two-hundred day moving average is $123.56. Cirrus Logic, Inc. has a 52 week low of $74.83 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data 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 company had revenue of $541.90 million for 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 business’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of research reports. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research report on Tuesday, November 5th. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Finally, Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Company 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.