Versor Investments LP lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) by 67.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,607 shares of the semiconductor company’s stock after selling 7,342 shares during the period. Versor Investments LP’s holdings in Cirrus Logic were worth $395,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Denali Advisors LLC increased its stake in shares of Cirrus Logic by 33.3% in the 4th quarter. Denali Advisors LLC now owns 400 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 100 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of Cirrus Logic by 0.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 26,120 shares of the semiconductor company’s stock worth $2,857,000 after acquiring an additional 147 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Cirrus Logic by 1.1% in the 1st quarter. Arizona State Retirement System now owns 15,954 shares of the semiconductor company’s stock worth $1,745,000 after acquiring an additional 169 shares in the last quarter. Edmond DE Rothschild Holding S.A. increased its stake in shares of Cirrus Logic by 12.7% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,564 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 176 shares in the last quarter. Finally, Parallel Advisors LLC increased its stake in shares of Cirrus Logic by 24.3% in the 4th quarter. Parallel Advisors LLC now owns 940 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 184 shares in the last quarter. 93.92% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on CRUS. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and reduced their price objective for the company from $92.00 to $80.00 in a research note on Monday, May 22nd. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Friday. Susquehanna raised their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company a “positive” rating in a research note on Friday. Bank of America raised their price objective on shares of Cirrus Logic from $75.00 to $80.00 in a research note on Friday. Finally, Barclays reduced their price objective on shares of Cirrus Logic from $105.00 to $90.00 in a research note on Friday, May 5th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average target price of $99.09.
Cirrus Logic Trading Up 3.0 %
CRUS opened at $85.04 on Tuesday. Cirrus Logic, Inc. has a 12-month low of $61.94 and a 12-month high of $111.15. The company has a market cap of $4.65 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 13.25 and a beta of 0.94. The company’s 50 day moving average is $78.93 and its 200 day moving average is $89.00.
About Cirrus Logic
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 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 digital signal processing; boosted amplifiers; 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.
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