Intech Investment Management LLC Acquires 4,739 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Intech Investment Management LLC increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 52.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,689 shares of the semiconductor company's stock after acquiring an additional 4,739 shares during the quarter. Intech Investment Management LLC's holdings in Cirrus Logic were worth $1,363,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRUS. Royce & Associates LP boosted its holdings 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 valued at $64,461,000 after purchasing an additional 25,746 shares during the last quarter. Natixis Advisors LLC lifted its position in shares of Cirrus Logic by 8.3% in the fourth quarter. Natixis Advisors LLC now owns 109,965 shares of the semiconductor company's stock worth $10,950,000 after buying an additional 8,459 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in Cirrus Logic by 62.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,543 shares of the semiconductor company's stock valued at $353,000 after buying an additional 1,368 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in Cirrus Logic by 179.4% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 46,706 shares of the semiconductor company's stock valued at $4,679,000 after buying an additional 29,990 shares in the last quarter. Finally, Swiss National Bank increased its stake in Cirrus Logic by 0.7% in the 4th quarter. Swiss National Bank now owns 105,100 shares of the semiconductor company's stock worth $10,466,000 after acquiring an additional 700 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

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Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $0.65 during trading on Wednesday, hitting $103.31. The stock had a trading volume of 363,238 shares, compared to its average volume of 722,912. The stock has a market cap of $5.49 billion, a PE ratio of 18.75 and a beta of 0.89. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The firm's fifty day simple moving average is $103.43 and its 200-day simple moving average is $108.84.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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 expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CRUS. Benchmark reiterated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Barclays upped their target price 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.02% of the company's stock.

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.