Alberta Investment Management Corp Acquires 4,000 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Alberta Investment Management Corp increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,100 shares of the semiconductor company's stock after purchasing an additional 4,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.05% of Cirrus Logic worth $2,798,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 120 shares during the period. Westside Investment Management Inc. bought a new stake in Cirrus Logic in the third quarter valued at approximately $35,000. Sound Income Strategies LLC bought a new stake in Cirrus Logic in the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $47,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Barclays upped 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. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price objective for the company. Finally, Benchmark raised Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective on the stock in a research note on Wednesday, February 5th. 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 an average rating of "Moderate Buy" and an average price target of $132.86.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated 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 owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Price Performance

Shares of CRUS traded down $2.23 during trading hours on Friday, hitting $109.07. The stock had a trading volume of 787,449 shares, compared to its average volume of 780,081. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The firm has a market capitalization of $5.80 billion, a P/E ratio of 19.79 and a beta of 0.91. The firm has a 50 day simple moving average of $103.00 and a 200-day simple moving average of $114.59.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal 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.