American Century Companies Inc. Buys 16,215 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

American Century Companies Inc. raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 25.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,969 shares of the semiconductor company's stock after buying an additional 16,215 shares during the period. American Century Companies Inc. owned about 0.15% of Cirrus Logic worth $8,063,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic in the 4th quarter valued at $28,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic in the third quarter valued at about $35,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic during the 4th quarter worth about $46,000. R Squared Ltd bought a new stake in shares of Cirrus Logic during the 4th quarter worth about $47,000. Finally, Quent Capital LLC raised its holdings in Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 296 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business'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 completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is owned by insiders.

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Cirrus Logic Stock Down 6.6 %

Shares of CRUS traded down $5.50 during mid-day trading on Tuesday, hitting $77.43. 960,299 shares of the company's stock were exchanged, compared to its average volume of 605,574. The firm has a market cap of $4.12 billion, a price-to-earnings ratio of 14.05 and a beta of 0.95. The stock's 50-day simple moving average is $101.58 and its 200-day simple moving average is $106.15. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRUS shares. Barclays raised their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Benchmark reissued a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price 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.