Summit Global Investments purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,268 shares of the semiconductor company's stock, valued at approximately $923,000.
Several other institutional investors and hedge funds also recently modified their holdings of CRUS. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic during the 4th quarter valued at $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter worth about $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the fourth quarter worth about $46,000. R Squared Ltd bought a new stake in Cirrus Logic in the fourth quarter worth about $47,000. Finally, Quent Capital LLC lifted its holdings in Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 87.96% of the company's stock.
Insider Buying and Selling
In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.02% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on the stock. Benchmark restated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays upped their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a report on Wednesday, February 5th. Finally, StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $132.86.
View Our Latest Research Report on Cirrus Logic
Cirrus Logic Trading Down 0.0 %
CRUS stock traded down $0.05 during midday trading on Thursday, reaching $103.26. The company had a trading volume of 535,071 shares, compared to its average volume of 575,426. The company has a 50 day moving average of $103.46 and a two-hundred day moving average of $108.80. The company has a market capitalization of $5.49 billion, a P/E ratio of 18.74 and a beta of 0.89. 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 released its quarterly earnings data 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 net margin of 16.55% and a return on equity of 16.60%. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.
Cirrus Logic Profile
(
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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