Blueshift Asset Management LLC Acquires Shares of 3,743 Cirrus Logic, Inc. (NASDAQ:CRUS)

Blueshift Asset Management LLC purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,743 shares of the semiconductor company's stock, valued at approximately $373,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRUS. Teacher Retirement System of Texas lifted its position in shares of Cirrus Logic by 17.5% during the 4th quarter. Teacher Retirement System of Texas now owns 53,627 shares of the semiconductor company's stock worth $5,340,000 after purchasing an additional 7,987 shares during the last quarter. Xponance Inc. raised its stake in Cirrus Logic by 4.9% in the fourth quarter. Xponance Inc. now owns 7,256 shares of the semiconductor company's stock valued at $723,000 after buying an additional 337 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Cirrus Logic by 52.9% during the 4th quarter. Intech Investment Management LLC now owns 13,689 shares of the semiconductor company's stock worth $1,363,000 after buying an additional 4,739 shares during the last quarter. Royce & Associates LP boosted its position in shares of Cirrus Logic by 4.1% during the 4th quarter. Royce & Associates LP now owns 647,332 shares of the semiconductor company's stock worth $64,461,000 after acquiring an additional 25,746 shares in the last quarter. Finally, Natixis Advisors LLC boosted its position in shares of Cirrus Logic by 8.3% during the 4th quarter. Natixis Advisors LLC now owns 109,965 shares of the semiconductor company's stock worth $10,950,000 after acquiring an additional 8,459 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

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Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. 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 report on Wednesday, February 5th. Finally, Benchmark restated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $132.86.

Cirrus Logic Price Performance

Shares of CRUS stock traded up $0.08 during trading hours on Tuesday, hitting $102.66. The stock had a trading volume of 336,541 shares, compared to its average volume of 575,003. The stock's 50 day moving average is $103.43 and its 200 day moving average is $108.84. The firm has a market capitalization of $5.46 billion, a PE ratio of 18.63 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly 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 return on equity of 16.60% and a net margin of 16.55%. As a group, equities analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

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.