Pacer Advisors Inc. Boosts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Pacer Advisors Inc. increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 44.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,267,792 shares of the semiconductor company’s stock after acquiring an additional 387,346 shares during the period. Pacer Advisors Inc.’s holdings in Cirrus Logic were worth $126,247,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after acquiring an additional 129,457 shares during the last quarter. Geode Capital Management LLC lifted its position in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC increased its stake in shares of Cirrus Logic by 741.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after buying an additional 24,454 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.3 %

NASDAQ CRUS opened at $101.41 on Monday. The firm has a market capitalization of $5.39 billion, a PE ratio of 17.19 and a beta of 0.92. The stock’s 50 day moving average is $102.97 and its 200 day moving average is $118.10. Cirrus Logic, Inc. has a twelve month low of $75.92 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results 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 net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. During the same period last year, the business earned $1.43 EPS. Cirrus Logic’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average 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.