131,553 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, HoldingsChannel reports. The fund acquired 131,553 shares of the semiconductor company’s stock, valued at approximately $16,340,000.

A number of other institutional investors have also made changes to their positions in the stock. Stonegate Investment Group LLC grew its stake in shares of Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc grew 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 acquiring an additional 101 shares during the period. Profund Advisors LLC grew its stake in Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after acquiring an additional 103 shares during the period. Arkadios Wealth Advisors grew its stake in Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after acquiring an additional 119 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

CRUS opened at $104.45 on Monday. Cirrus Logic, Inc. has a 52-week low of $74.83 and a 52-week high of $147.46. The firm has a market capitalization of $5.55 billion, a PE ratio of 17.70 and a beta of 0.96. The business’s 50-day simple moving average is $113.90 and its 200 day simple moving average is $123.37.

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

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of research analyst reports. Barclays decreased their target price on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 5th. KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Loop Capital initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Finally, Susquehanna boosted 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. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.50.

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 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.