Allspring Global Investments Holdings LLC Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Allspring Global Investments Holdings LLC boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 443.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 218,709 shares of the semiconductor company's stock after buying an additional 178,469 shares during the period. Allspring Global Investments Holdings LLC owned 0.41% of Cirrus Logic worth $21,742,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Stonegate Investment Group LLC lifted its holdings in shares of Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 90 shares during the last quarter. Atria Investments Inc lifted its holdings 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 during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock valued at $353,000 after purchasing an additional 142 shares during the last quarter. Finally, Ritholtz Wealth Management raised its stake in Cirrus Logic by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Up 0.2 %

Shares of NASDAQ:CRUS traded up $0.20 during trading on Wednesday, reaching $111.40. 577,673 shares of the company's stock traded hands, compared to its average volume of 786,274. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The firm has a market cap of $5.92 billion, a PE ratio of 20.22 and a beta of 0.91. The company has a 50-day simple moving average of $102.76 and a 200-day simple moving average of $114.66.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of research analyst reports. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 target price for the company in a research note on Wednesday, February 5th. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price target on the stock. Susquehanna increased their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.86.

About Cirrus Logic

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.