Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 77.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,060 shares of the semiconductor company's stock after buying an additional 21,022 shares during the period. Massachusetts Financial Services Co. MA owned about 0.09% of Cirrus Logic worth $4,786,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at $28,000. Headlands Technologies LLC purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at $39,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the fourth quarter valued at $46,000. Finally, R Squared Ltd purchased a new position in Cirrus Logic during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Benchmark restated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays boosted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and an average target price of $132.86.

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Insider Buying and Selling

In related 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 transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.

Cirrus Logic Stock Up 1.7 %

Shares of NASDAQ CRUS traded up $1.42 during midday trading on Friday, hitting $86.27. The stock had a trading volume of 879,223 shares, compared to its average volume of 614,704. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The company has a market capitalization of $4.58 billion, a price-to-earnings ratio of 15.66 and a beta of 0.95. The company has a fifty day moving average price of $100.61 and a 200 day moving average price of $105.31.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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 net margin of 16.55% and a return on equity of 16.60%. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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.