Alhambra Investment Management LLC Makes New $200,000 Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Alhambra Investment Management LLC purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,011 shares of the semiconductor company’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CRUS. FMR LLC grew its holdings in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock valued at $173,380,000 after acquiring an additional 39,759 shares during the last quarter. Geode Capital Management LLC increased its position in Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares during the last quarter. Pacer Advisors Inc. raised its stake in Cirrus Logic by 32.3% during the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company’s stock worth $109,360,000 after purchasing an additional 215,126 shares during the period. Finally, Sei Investments Co. boosted its holdings in Cirrus Logic by 8.6% in the 2nd quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after purchasing an additional 59,690 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $101.00 on Friday. The company has a market cap of $5.37 billion, a P/E ratio of 17.12 and a beta of 0.92. Cirrus Logic, Inc. has a 1-year low of $75.92 and a 1-year high of $147.46. The stock has a 50-day moving average of $103.12 and a two-hundred day moving average of $119.34.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (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 net margin of 17.19% and a return on equity of 18.15%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRUS. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Barclays reduced their target price 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. Susquehanna increased their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.