Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by DnB Asset Management AS

DnB Asset Management AS increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 52.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,672 shares of the semiconductor company's stock after purchasing an additional 94,088 shares during the period. DnB Asset Management AS owned 0.52% of Cirrus Logic worth $27,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the third quarter worth about $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the 4th quarter worth approximately $28,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic during the 4th quarter worth approximately $46,000. R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter valued at approximately $47,000. Finally, Quent Capital LLC boosted its holdings in shares of Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several recent research reports. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Benchmark reiterated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Barclays upped their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.86.

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Cirrus Logic Trading Down 0.0 %

CRUS traded down $0.01 during trading on Wednesday, hitting $99.82. The company's stock had a trading volume of 176,760 shares, compared to its average volume of 589,670. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.12 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The business's fifty day simple moving average is $103.44 and its 200 day simple moving average is $107.69.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly 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 return on equity of 16.60% and a net margin of 16.55%. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In related 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 completion of the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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.