Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Earnest Partners LLC

Earnest Partners LLC raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,364,140 shares of the semiconductor company's stock after acquiring an additional 46,121 shares during the quarter. Earnest Partners LLC owned approximately 2.57% of Cirrus Logic worth $135,841,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the third quarter valued at approximately $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in Cirrus Logic in the fourth quarter valued at approximately $39,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic in the fourth quarter valued at approximately $47,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded down $0.12 during trading on Tuesday, hitting $93.55. 361,978 shares of the company were exchanged, compared to its average volume of 624,526. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $147.46. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 16.98 and a beta of 0.95. The firm's fifty day moving average price is $96.09 and its 200 day moving average price is $102.69.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data 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%. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Barclays reduced their price objective on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Benchmark reiterated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of "Moderate Buy" and an average target price of $123.86.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic 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 transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.02% of the company's stock.

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.