Mirae Asset Global Investments Co. Ltd. Has $7.15 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mirae Asset Global Investments Co. Ltd. lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,161 shares of the semiconductor company's stock after selling 2,852 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.13% of Cirrus Logic worth $7,147,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. FMR LLC raised its position in Cirrus Logic by 6.3% in the third 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. Pacer Advisors Inc. raised its position in Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock worth $126,247,000 after acquiring an additional 387,346 shares in the last quarter. Geode Capital Management LLC raised its position in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock worth $141,414,000 after acquiring an additional 50,582 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after acquiring an additional 129,457 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock worth $36,811,000 after acquiring an additional 69,006 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CRUS shares. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price target on the stock. Barclays boosted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and a consensus price target of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $0.88 during trading hours on Tuesday, hitting $103.51. The stock had a trading volume of 500,766 shares, compared to its average volume of 795,743. The company has a market capitalization of $5.50 billion, a P/E ratio of 18.79 and a beta of 0.91. The firm's 50-day moving average price is $102.42 and its two-hundred day moving average price is $115.27. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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, analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company'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 completion of the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by company insiders.

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.