Bridgewater Associates LP Has $6.95 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Bridgewater Associates LP boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 85.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 69,765 shares of the semiconductor company's stock after purchasing an additional 32,049 shares during the period. Bridgewater Associates LP owned about 0.13% of Cirrus Logic worth $6,947,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. bought a new position in Cirrus Logic during the third quarter worth $35,000. Headlands Technologies LLC bought a new position in Cirrus Logic during the fourth quarter worth $39,000. Sound Income Strategies LLC bought a new position in shares of Cirrus Logic in the fourth quarter valued at about $46,000. Finally, R Squared Ltd acquired a new stake in shares of Cirrus Logic during the 4th quarter worth about $47,000. Institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRUS. Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. Barclays boosted their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Finally, Benchmark reiterated a "buy" rating and set a $125.00 price objective 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $128.86.

Cirrus Logic Stock Up 0.1 %

Shares of CRUS traded up $0.06 during trading hours on Friday, hitting $85.58. 519,758 shares of the company were exchanged, compared to its average volume of 621,544. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 15.53 and a beta of 0.95. The firm's fifty day moving average is $98.66 and its 200 day moving average is $104.08. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two 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 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%. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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 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. This represents a 19.76 % decrease in their position. The sale 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 insiders.

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.