Federated Hermes Inc. Increases Stock Position in Cirrus Logic, Inc. $CRUS

Federated Hermes Inc. raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,932 shares of the semiconductor company’s stock after purchasing an additional 5,112 shares during the period. Federated Hermes Inc. owned approximately 0.09% of Cirrus Logic worth $5,630,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Stonegate Investment Group LLC boosted its position in shares of Cirrus Logic by 6.2% during the third quarter. Stonegate Investment Group LLC now owns 2,298 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 134 shares during the last quarter. CIBC Asset Management Inc bought a new position in Cirrus Logic during the 3rd quarter valued at about $213,000. Y Intercept Hong Kong Ltd boosted its holdings in shares of Cirrus Logic by 71.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 9,461 shares of the semiconductor company’s stock valued at $1,185,000 after acquiring an additional 3,945 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Cirrus Logic by 1.6% during the 3rd quarter. Teacher Retirement System of Texas now owns 20,605 shares of the semiconductor company’s stock valued at $2,582,000 after acquiring an additional 327 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Cirrus Logic by 10.6% in the third quarter. Covestor Ltd now owns 1,645 shares of the semiconductor company’s stock worth $207,000 after acquiring an additional 158 shares during the period. Institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Andrew Brannan sold 8,913 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $119.06, for a total value of $1,061,181.78. Following the sale, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. The trade was a 59.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.16% of the stock is currently owned by insiders.

Cirrus Logic Stock Up 0.1%

Shares of Cirrus Logic stock opened at $130.53 on Tuesday. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 18.54 and a beta of 1.09. The stock’s 50-day simple moving average is $123.11 and its 200-day simple moving average is $119.49. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.51. The firm had revenue of $560.96 million for the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.25 earnings per share. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of research analyst reports. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research report on Monday. KeyCorp increased their target price on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Benchmark boosted their price target on Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $140.71.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.