EFG Asset Management North America Corp. Has $1.74 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

EFG Asset Management North America Corp. boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 58.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,493 shares of the semiconductor company's stock after purchasing an additional 6,459 shares during the quarter. EFG Asset Management North America Corp.'s holdings in Cirrus Logic were worth $1,742,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic in the fourth quarter worth $28,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic in the 3rd quarter worth about $35,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the 4th quarter valued at about $46,000. R Squared Ltd bought a new position in shares of Cirrus Logic during the fourth quarter worth about $47,000. Finally, Quent Capital LLC grew its stake in Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 296 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, 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 SEC, which is accessible through this link. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Trading Down 3.6 %

NASDAQ:CRUS traded down $3.75 on Friday, hitting $99.51. 443,647 shares of the company's stock traded hands, compared to its average volume of 591,445. The company has a market cap of $5.29 billion, a PE ratio of 18.06 and a beta of 0.89. The firm has a 50-day moving average price of $103.47 and a 200-day moving average price of $108.36. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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%. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays upped their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Benchmark restated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.

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.