EntryPoint Capital LLC Invests $527,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

EntryPoint Capital LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,288 shares of the semiconductor company's stock, valued at approximately $527,000.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cirrus Logic by 4.7% during the third 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 in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after buying an additional 69,006 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cirrus Logic in the third quarter worth approximately $2,543,000. Finally, Hancock Whitney Corp bought a new stake in Cirrus Logic in the 3rd quarter worth approximately $898,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

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

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Insider Transactions at Cirrus Logic

In other 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company's stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS traded down $3.75 during mid-day trading on Friday, reaching $99.51. The company's stock had a trading volume of 443,647 shares, compared to its average volume of 591,445. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The stock has a fifty day moving average of $103.47 and a two-hundred day moving average of $108.36. The firm has a market capitalization of $5.29 billion, a PE ratio of 18.06 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released 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%. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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.