Haven Private LLC Invests $237,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Haven Private LLC purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,380 shares of the semiconductor company's stock, valued at approximately $237,000.

Other large investors have also added to or reduced their stakes in the company. Huntington National Bank grew its holdings in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after buying an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic in the fourth quarter valued at about $28,000. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after buying an additional 120 shares in the last quarter. Westside Investment Management Inc. acquired a new stake in Cirrus Logic in the third quarter valued at about $35,000. Finally, Sound Income Strategies LLC bought a new position in Cirrus Logic in the fourth quarter valued at about $46,000. Institutional investors own 87.96% of the company's stock.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business'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 transaction, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

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Cirrus Logic Stock Down 3.8 %

Cirrus Logic stock traded down $3.90 during mid-day trading on Wednesday, reaching $97.89. 1,068,268 shares of the company's stock were exchanged, compared to its average volume of 565,623. The business's fifty day simple moving average is $103.77 and its 200 day simple moving average is $111.70. The firm has a market capitalization of $5.20 billion, a PE ratio of 17.77 and a beta of 0.89. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CRUS shares. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 target price for the company in a research report on Wednesday, February 5th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 target price for the company. Barclays raised 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. Finally, Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and a consensus price target of $132.86.

About Cirrus Logic

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.