Optimize Financial Inc bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,082 shares of the semiconductor company's stock, valued at approximately $1,303,000. Cirrus Logic comprises about 1.0% of Optimize Financial Inc's investment portfolio, making the stock its 26th largest holding.
Several other large investors also recently bought and sold shares of the stock. Allianz Asset Management GmbH lifted its position in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock worth $104,049,000 after acquiring an additional 604,431 shares during the period. Norges Bank acquired a new position in shares of Cirrus Logic in the fourth quarter valued at about $58,723,000. Pacer Advisors Inc. raised its stake in shares of 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 purchasing an additional 387,346 shares during the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Cirrus Logic by 7,706.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company's stock worth $24,893,000 after purchasing an additional 246,775 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Cirrus Logic by 443.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company's stock worth $21,742,000 after purchasing an additional 178,469 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.
Insiders Place Their Bets
In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction on Monday, February 3rd. The shares were 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 approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by company insiders.
Cirrus Logic Stock Performance
Shares of CRUS traded down $0.46 during trading hours on Tuesday, hitting $86.95. The stock had a trading volume of 458,251 shares, compared to its average volume of 616,763. The firm has a 50-day moving average price of $99.82 and a 200 day moving average price of $104.83. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The firm has a market capitalization of $4.62 billion, a price-to-earnings ratio of 15.78 and a beta of 0.95.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.60% and a net margin of 16.55%. As a group, analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Benchmark reaffirmed a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $132.86.
Check Out Our Latest 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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