Cirrus Logic, Inc. (NASDAQ:CRUS) Sees Significant Increase in Short Interest

Cirrus Logic, Inc. (NASDAQ:CRUS - Get Free Report) was the recipient of a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,660,000 shares, an increase of 5.7% from the January 15th total of 1,570,000 shares. Based on an average daily volume of 718,000 shares, the short-interest ratio is presently 2.3 days. Approximately 3.1% of the shares of the stock are short sold.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $2.45 during mid-day trading on Friday, hitting $108.85. The stock had a trading volume of 394,781 shares, compared to its average volume of 767,802. The business has a 50 day moving average price of $102.96 and a two-hundred day moving average price of $114.61. Cirrus Logic has a 1 year low of $81.30 and a 1 year high of $147.46. The firm has a market cap of $5.79 billion, a P/E ratio of 19.77 and a beta of 0.91.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Benchmark upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective on the stock in a research report on Wednesday, February 5th. Barclays upped 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. Susquehanna raised their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus dropped their price target on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $132.86.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.02% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its holdings in Cirrus Logic by 12.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after buying an additional 196,483 shares during the period. Castlekeep Investment Advisors LLC purchased a new stake in Cirrus Logic in the fourth quarter worth $1,695,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Cirrus Logic by 10.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,799 shares of the semiconductor company's stock valued at $20,394,000 after acquiring an additional 18,754 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Cirrus Logic during the 4th quarter valued at $1,383,000. Finally, Woodline Partners LP bought a new position in Cirrus Logic in the 4th quarter worth $4,998,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

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.