Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by LSV Asset Management

LSV Asset Management raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,256,760 shares of the semiconductor company's stock after acquiring an additional 154,048 shares during the quarter. LSV Asset Management owned approximately 4.25% of Cirrus Logic worth $224,728,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in shares of Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock worth $141,414,000 after purchasing an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock worth $36,811,000 after buying an additional 69,006 shares during the last quarter. Burney Co. lifted its holdings in Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock worth $15,360,000 after buying an additional 142,430 shares during the last quarter. KBC Group NV boosted its position in shares of Cirrus Logic by 52.5% during the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company's stock worth $189,000 after acquiring an additional 653 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after acquiring an additional 62,757 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

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Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on CRUS shares. Benchmark reissued a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays increased their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.86.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded down $0.11 during mid-day trading on Tuesday, reaching $87.30. The stock had a trading volume of 140,938 shares, compared to its average volume of 614,200. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The business has a 50 day simple moving average of $100.17 and a 200 day simple moving average of $104.95. The firm has a market capitalization of $4.64 billion, a price-to-earnings ratio of 15.84 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results 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%. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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.