Short Interest in Cirrus Logic, Inc. (NASDAQ:CRUS) Increases By 12.8%

Cirrus Logic, Inc. (NASDAQ:CRUS) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 2,210,000 shares, a growth of 12.8% from the October 15th total of 1,960,000 shares. Approximately 4.2% of the company’s stock are sold short. Based on an average daily trading volume, of 609,400 shares, the days-to-cover ratio is presently 3.6 days.

Analyst Upgrades and Downgrades

Several research firms have commented on CRUS. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. StockNews.com cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th. Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Stifel Nicolaus reduced 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. Finally, Susquehanna increased their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.50.

Institutional Investors Weigh In On Cirrus Logic

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stonegate Investment Group LLC raised its stake in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock worth $221,000 after buying an additional 90 shares in the last quarter. Atria Investments Inc boosted its position in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares in the last quarter. Profund Advisors LLC grew its stake in shares of Cirrus Logic by 2.0% in the 2nd quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of Cirrus Logic by 2.8% in the 2nd quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after purchasing an additional 119 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Up 0.4 %

CRUS stock traded up $0.39 during mid-day trading on Monday, reaching $101.06. The company had a trading volume of 775,793 shares, compared to its average volume of 517,186. Cirrus Logic has a one year low of $74.80 and a one year high of $147.46. The stock’s 50-day simple moving average is $118.20 and its two-hundred day simple moving average is $123.26. The stock has a market capitalization of $5.37 billion, a P/E ratio of 17.13 and a beta of 0.96.

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

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.