Royce & Associates LP raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 647,332 shares of the semiconductor company's stock after buying an additional 25,746 shares during the period. Cirrus Logic comprises 0.6% of Royce & Associates LP's investment portfolio, making the stock its 26th largest position. Royce & Associates LP owned 1.22% of Cirrus Logic worth $64,461,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Huntington National Bank grew its stake in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after buying an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new stake in Cirrus Logic in the third quarter valued at approximately $35,000. Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new position in shares of Cirrus Logic during the fourth quarter worth $47,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.
Cirrus Logic Stock Down 1.2 %
Shares of CRUS traded down $1.18 during midday trading on Thursday, hitting $99.87. The company had a trading volume of 408,638 shares, compared to its average volume of 565,129. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The company's 50 day moving average price is $103.48 and its 200 day moving average price is $110.09. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 18.13 and a beta of 0.89.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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%. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.
Insider Activity
In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.02% of the company's stock.
Analyst Upgrades and Downgrades
CRUS has been the subject of a number of recent analyst reports. Benchmark reaffirmed a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday. StockNews.com upgraded 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 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and an average target price of $132.86.
View Our Latest Research Report 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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