Jump Financial LLC Purchases 8,943 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Jump Financial LLC grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 60.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,617 shares of the semiconductor company's stock after purchasing an additional 8,943 shares during the period. Jump Financial LLC's holdings in Cirrus Logic were worth $2,352,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the 4th quarter worth $28,000. Westside Investment Management Inc. purchased a new stake in Cirrus Logic during the 3rd quarter valued at about $35,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic during the fourth quarter worth $39,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $46,000. Finally, R Squared Ltd acquired a new position in shares of Cirrus Logic during the 4th quarter valued at about $47,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CRUS shares. Benchmark reiterated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Stifel Nicolaus cut their target price on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Barclays lowered their price objective on shares of Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday. 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 company has an average rating of "Moderate Buy" and a consensus price target of $123.86.

Cirrus Logic Trading Up 4.6 %

Shares of CRUS traded up $4.08 during mid-day trading on Thursday, hitting $92.84. 253,332 shares of the company traded hands, compared to its average volume of 620,803. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 16.86 and a beta of 0.95. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The business has a 50-day moving average of $97.49 and a 200 day moving average of $103.52.

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%. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In related 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by company insiders.

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.