Barclays PLC Has $12.24 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Barclays PLC reduced its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 98,482 shares of the semiconductor company’s stock after selling 19,739 shares during the quarter. Barclays PLC’s holdings in Cirrus Logic were worth $12,235,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CRUS. Stonegate Investment Group LLC raised its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares in the last quarter. Atria Investments Inc raised its stake in Cirrus Logic by 2.9% in 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 in the last quarter. Profund Advisors LLC lifted its position in Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares during the period. Arkadios Wealth Advisors lifted its position in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.3 %

NASDAQ CRUS opened at $106.71 on Monday. The company has a market cap of $5.67 billion, a price-to-earnings ratio of 18.09 and a beta of 0.93. Cirrus Logic, Inc. has a twelve month low of $75.92 and a twelve month high of $147.46. The business’s fifty day moving average is $110.76 and its 200 day moving average is $122.87.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The firm had revenue of $541.90 million for the quarter, compared to analyst estimates of $520.53 million. During the same period last year, the firm posted $1.43 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several analyst reports. Stifel Nicolaus reduced their price target 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. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna upped their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Finally, Barclays reduced their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.