Raymond James Financial Inc. Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James Financial Inc. bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 52,469 shares of the semiconductor company's stock, valued at approximately $5,225,000. Raymond James Financial Inc. owned approximately 0.10% of Cirrus Logic as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter valued at approximately $35,000. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the fourth quarter worth $28,000. Headlands Technologies LLC bought a new position in shares of Cirrus Logic in the 4th quarter valued at about $39,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth about $46,000. Finally, R Squared Ltd bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Trading Down 0.1 %

CRUS stock traded down $0.12 during trading hours on Tuesday, hitting $93.55. 361,978 shares of the stock were exchanged, compared to its average volume of 623,040. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The firm has a market capitalization of $4.97 billion, a P/E ratio of 16.98 and a beta of 0.95. The company has a 50-day simple moving average of $96.44 and a two-hundred day simple moving average of $102.75.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Barclays lowered their price target on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Finally, Benchmark reaffirmed a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.86.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is currently owned by corporate insiders.

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.