Skandinaviska Enskilda Banken AB publ Increases Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Skandinaviska Enskilda Banken AB publ increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 179.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,706 shares of the semiconductor company's stock after buying an additional 29,990 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned 0.09% of Cirrus Logic worth $4,679,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after acquiring an additional 217,404 shares during the period. Pacer Advisors Inc. grew its stake in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock worth $126,247,000 after purchasing an additional 387,346 shares during the last quarter. Geode Capital Management LLC increased its holdings in Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock valued at $141,414,000 after purchasing an additional 50,582 shares during the period. Allianz Asset Management GmbH raised its position in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock valued at $104,049,000 after purchasing an additional 604,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after buying an additional 129,457 shares during the period. 87.96% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRUS shares. Benchmark reissued a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Finally, Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $132.86.

Cirrus Logic Price Performance

NASDAQ CRUS traded up $0.19 during trading hours on Wednesday, reaching $101.05. 339,890 shares of the company's stock traded hands, compared to its average volume of 564,808. The firm has a 50-day simple moving average of $103.57 and a 200 day simple moving average of $110.15. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46. The firm has a market cap of $5.37 billion, a PE ratio of 18.34 and a beta of 0.89.

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 analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts forecast 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.