Impact Partnership Wealth LLC Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Impact Partnership Wealth LLC acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,450 shares of the semiconductor company’s stock, valued at approximately $244,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Huntington National Bank grew its stake 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 purchasing an additional 210 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Cirrus Logic in the third quarter valued at $31,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter worth $35,000. Finally, Sound Income Strategies LLC bought a new stake in Cirrus Logic during the fourth quarter worth $46,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.3 %

Cirrus Logic stock opened at $101.41 on Friday. The company has a market capitalization of $5.39 billion, a price-to-earnings ratio of 17.19 and a beta of 0.92. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The stock’s 50 day moving average is $102.97 and its 200-day moving average is $118.35.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data 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 in the prior year, the firm posted $1.43 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of analyst reports. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. 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. Barclays dropped 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. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $132.50.

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.