AXQ Capital LP Purchases New Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

AXQ Capital LP bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,566 shares of the semiconductor company's stock, valued at approximately $753,000.

Other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after buying an additional 129,457 shares during the last quarter. Geode Capital Management LLC grew its stake in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock valued at $141,414,000 after purchasing an additional 50,582 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after purchasing an additional 69,006 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cirrus Logic during the 3rd quarter worth $2,543,000. Finally, Hancock Whitney Corp purchased a new position in shares of Cirrus Logic in the 3rd quarter worth about $898,000. Institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

CRUS has been the topic of several research analyst reports. Benchmark reiterated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays boosted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of "Moderate Buy" and an average target price of $132.86.

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Insider Activity at Cirrus Logic

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

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $0.65 during midday trading on Wednesday, reaching $103.31. 363,351 shares of the stock traded hands, compared to its average volume of 575,554. The stock has a market capitalization of $5.49 billion, a P/E ratio of 18.75 and a beta of 0.89. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The company has a fifty day moving average of $103.46 and a 200 day moving average of $108.80.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results 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, analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic 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.