Tidal Investments LLC Has $1.83 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Tidal Investments LLC boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 118.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,767 shares of the semiconductor company’s stock after purchasing an additional 8,016 shares during the quarter. Tidal Investments LLC’s holdings in Cirrus Logic were worth $1,834,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Huntington National Bank lifted its holdings in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Cirrus Logic during the 3rd quarter worth $31,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the 3rd quarter worth $35,000. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic during the 2nd quarter worth $77,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Down 2.2 %

CRUS opened at $103.31 on Wednesday. Cirrus Logic, Inc. has a 12 month low of $75.92 and a 12 month high of $147.46. The company has a fifty day simple moving average of $110.22 and a 200 day simple moving average of $122.73. The stock has a market cap of $5.49 billion, a P/E ratio of 17.51 and a beta of 0.93.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Barclays dropped their target price on shares of 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. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. Finally, Susquehanna upped their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price 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.