Raymond James Financial Inc. purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 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 SEC filing.
A number of other large investors have also recently modified their holdings of CRUS. Massachusetts Financial Services Co. MA lifted its holdings in shares of Cirrus Logic by 5.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 27,038 shares of the semiconductor company's stock worth $3,358,000 after acquiring an additional 1,445 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Cirrus Logic by 137.1% in the 3rd quarter. Citigroup Inc. now owns 32,650 shares of the semiconductor company's stock worth $4,055,000 after purchasing an additional 18,877 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in shares of Cirrus Logic in the 3rd quarter worth about $264,000. Finally, Cerity Partners LLC raised its holdings in shares of Cirrus Logic by 401.4% during the 3rd quarter. Cerity Partners LLC now owns 19,869 shares of the semiconductor company's stock valued at $2,468,000 after buying an additional 15,906 shares in the last quarter. Institutional investors own 87.96% of the company's stock.
Cirrus Logic Stock Down 3.6 %
Shares of CRUS traded down $3.75 during mid-day trading on Friday, hitting $99.51. 443,647 shares of the company's stock traded hands, compared to its average volume of 591,445. The firm has a market capitalization of $5.29 billion, a P/E ratio of 18.06 and a beta of 0.89. The business's 50-day moving average price is $103.47 and its 200-day moving average price is $108.36. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
CRUS has been the subject of several research reports. Benchmark reaffirmed a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their target price 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and an average target price of $132.86.
Check Out Our Latest Stock Analysis on CRUS
Insiders Place Their Bets
In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction 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 transaction, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.
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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