Bank of New York Mellon Corp Has $47.78 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Bank of New York Mellon Corp lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 1.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 479,812 shares of the semiconductor company's stock after acquiring an additional 9,050 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of Cirrus Logic worth $47,780,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Atria Investments Inc boosted its holdings in shares of Cirrus Logic by 2.9% in the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock worth $447,000 after acquiring an additional 101 shares in the last quarter. Nisa Investment Advisors LLC boosted 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 acquiring an additional 120 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after acquiring an additional 142 shares in the last quarter. Ritholtz Wealth Management boosted its holdings in shares of 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 in the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in shares of Cirrus Logic by 9.1% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,886 shares of the semiconductor company's stock worth $234,000 after acquiring an additional 158 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $5.97 on Friday, hitting $108.92. 622,639 shares of the company's stock traded hands, compared to its average volume of 560,945. The firm's 50-day moving average price is $103.63 and its two-hundred day moving average price is $112.46. The stock has a market capitalization of $5.79 billion, a PE ratio of 19.77 and a beta of 0.89. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46.

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

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction 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 sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.02% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRUS. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price objective for the company. Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research report on Monday, November 18th. Barclays boosted 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. Finally, Benchmark upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.