Westside Investment Management Inc. Takes $35,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Westside Investment Management Inc. bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 279 shares of the semiconductor company’s stock, valued at approximately $35,000.

Several other large investors have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its holdings 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. Northwestern Mutual Wealth Management Co. boosted its holdings in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 shares in the last quarter. Susquehanna Fundamental Investments LLC increased its stake in Cirrus Logic by 741.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock valued at $3,543,000 after purchasing an additional 24,454 shares during the last quarter. Sheaff Brock Investment Advisors LLC acquired a new stake in Cirrus Logic during the third quarter worth approximately $1,752,000. Finally, Raymond James & Associates lifted its position in shares of Cirrus Logic by 48.4% during the 3rd quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after buying an additional 10,919 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.2 %

Cirrus Logic stock opened at $106.44 on Friday. The stock has a 50 day moving average of $111.02 and a two-hundred day moving average of $122.83. Cirrus Logic, Inc. has a twelve month low of $75.92 and a twelve month high of $147.46. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.04 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.23. The firm had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the company earned $1.43 earnings per share. Equities analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on CRUS shares. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna boosted 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. Stifel Nicolaus dropped their price target 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 cut their price target 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. Finally, Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.