Empowered Funds LLC Buys New Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Empowered Funds LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,016 shares of the semiconductor company's stock, valued at approximately $300,000.

Other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its holdings in Cirrus Logic by 44.0% during the 4th 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. FMR LLC grew its holdings in Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock worth $456,862,000 after acquiring an additional 217,404 shares in the last quarter. Burney Co. increased its position in shares of Cirrus Logic by 1,205.3% in the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock worth $15,360,000 after purchasing an additional 142,430 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at about $16,340,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after purchasing an additional 129,457 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRUS. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price objective for the company. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price target for the company in a report on Wednesday, February 5th. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. 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.com, the company has an average rating of "Moderate Buy" and an average price target of $132.86.

Cirrus Logic Stock Down 2.0 %

Cirrus Logic stock traded down $2.23 during mid-day trading on Friday, hitting $109.07. The company's stock had a trading volume of 787,449 shares, compared to its average volume of 780,081. The stock's fifty day moving average price is $102.96 and its two-hundred day moving average price is $114.61. The stock has a market capitalization of $5.80 billion, a P/E ratio of 19.79 and a beta of 0.91. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46.

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

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 completion of 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 legal filing with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by 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.