New Age Alpha Advisors LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,134 shares of the semiconductor company's stock, valued at approximately $1,407,000.
Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. boosted its stake in Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock valued at $126,247,000 after purchasing an additional 387,346 shares during the period. Geode Capital Management LLC boosted its position 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 worth $141,414,000 after buying an additional 50,582 shares during the period. Allianz Asset Management GmbH grew its holdings in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock worth $104,049,000 after buying an additional 604,431 shares in the last quarter. Sei Investments Co. increased its position in Cirrus Logic by 8.4% in the 4th quarter. Sei Investments Co. now owns 830,180 shares of the semiconductor company's stock valued at $82,672,000 after acquiring an additional 64,222 shares during the period. Finally, Royce & Associates LP raised its stake in Cirrus Logic by 4.1% during the 4th quarter. Royce & Associates LP now owns 647,332 shares of the semiconductor company's stock valued at $64,461,000 after acquiring an additional 25,746 shares in the last quarter. Institutional investors own 87.96% of the company's stock.
Insider Activity
In other Cirrus Logic 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 sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by company insiders.
Cirrus Logic Price Performance
Shares of CRUS traded down $9.46 during mid-day trading on Thursday, hitting $89.12. The company's stock had a trading volume of 517,771 shares, compared to its average volume of 591,741. The firm has a 50-day moving average price of $103.40 and a 200 day moving average price of $107.62. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 16.17 and a beta of 0.89.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly 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%. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Benchmark reissued a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.
Check Out Our Latest Stock Analysis on CRUS
About Cirrus Logic
(
Free Report)
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.
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