Oak Associates Ltd. OH Raises Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Oak Associates Ltd. OH grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 37.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,814 shares of the semiconductor company's stock after purchasing an additional 11,836 shares during the quarter. Oak Associates Ltd. OH owned approximately 0.08% of Cirrus Logic worth $4,363,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRUS. Arizona State Retirement System increased its position in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock valued at $1,543,000 after acquiring an additional 101 shares during the last quarter. Truvestments Capital LLC raised its stake in Cirrus Logic by 3.5% in the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after purchasing an additional 133 shares in the last quarter. Captrust Financial Advisors grew its position in Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after buying an additional 142 shares in the last quarter. Ritholtz Wealth Management lifted its position in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after purchasing an additional 153 shares during the period. Finally, Covestor Ltd raised its position in Cirrus Logic by 21.5% during the fourth quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

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Cirrus Logic Trading Down 1.3 %

Shares of CRUS stock traded down $1.16 during midday trading on Wednesday, reaching $85.79. 104,237 shares of the stock were exchanged, compared to its average volume of 614,792. The company's 50 day moving average is $99.82 and its two-hundred day moving average is $104.83. The firm has a market cap of $4.56 billion, a PE ratio of 15.57 and a beta of 0.95. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued 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%. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CRUS. Barclays raised 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. 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 research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Company 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.