Blueshift Asset Management LLC Invests $373,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

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

A number of other institutional investors have also recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter worth about $28,000. Westside Investment Management Inc. bought a new position in Cirrus Logic in the 3rd quarter valued at about $35,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at approximately $46,000. R Squared Ltd bought a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $47,000. Finally, Quent Capital LLC boosted its position in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 296 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Activity at Cirrus Logic

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

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Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays boosted their price objective 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. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Finally, Benchmark reiterated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has an average rating of "Moderate Buy" and an average target price of $132.86.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded up $0.65 during mid-day trading on Wednesday, hitting $103.31. 363,238 shares of the stock traded hands, compared to its average volume of 574,112. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The firm has a 50 day simple moving average of $103.43 and a two-hundred day simple moving average of $108.84. The company has a market cap of $5.49 billion, a PE ratio of 18.75 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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 anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share 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.