Raymond James & Associates Purchases 4,659 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James & Associates grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) by 18.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 29,306 shares of the semiconductor company’s stock after acquiring an additional 4,659 shares during the quarter. Raymond James & Associates’ holdings in Cirrus Logic were worth $2,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRUS. Vanguard Group Inc. lifted its position in Cirrus Logic by 2.9% during the first quarter. Vanguard Group Inc. now owns 5,939,813 shares of the semiconductor company’s stock valued at $503,637,000 after purchasing an additional 168,607 shares during the last quarter. Mackenzie Financial Corp grew its position in Cirrus Logic by 6.8% in the second quarter. Mackenzie Financial Corp now owns 2,739,177 shares of the semiconductor company’s stock worth $198,700,000 after acquiring an additional 175,600 shares in the last quarter. State Street Corp increased its stake in Cirrus Logic by 2.4% during the first quarter. State Street Corp now owns 1,987,809 shares of the semiconductor company’s stock worth $168,546,000 after acquiring an additional 46,040 shares during the last quarter. Wellington Management Group LLP raised its position in Cirrus Logic by 183.8% during the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after purchasing an additional 1,277,213 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of Cirrus Logic by 6.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,028,778 shares of the semiconductor company’s stock valued at $74,628,000 after purchasing an additional 60,282 shares during the last quarter. 91.78% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $89.29 on Tuesday. The company has a market capitalization of $4.92 billion, a P/E ratio of 14.86, a P/E/G ratio of 5.13 and a beta of 0.96. The company’s 50-day simple moving average is $77.46 and its two-hundred day simple moving average is $76.13. Cirrus Logic, Inc. has a one year low of $61.94 and a one year high of $90.67.

Cirrus Logic (NASDAQ:CRUSGet Rating) last announced its quarterly earnings data on Tuesday, November 1st. The semiconductor company reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.45. The company had revenue of $540.57 million for the quarter, compared to analysts’ expectations of $470.66 million. Cirrus Logic had a return on equity of 23.97% and a net margin of 17.79%. On average, research analysts expect that Cirrus Logic, Inc. will post 4.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRUS. Benchmark cut their target price on Cirrus Logic from $95.00 to $86.00 in a research report on Wednesday, November 2nd. Barclays increased their target price on shares of Cirrus Logic from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday. Needham & Company LLC lifted their price target on shares of Cirrus Logic from $73.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Finally, KeyCorp boosted their target price on Cirrus Logic from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, January 11th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.44.

About Cirrus Logic

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Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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