Trexquant Investment LP Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Trexquant Investment LP lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 383.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,303 shares of the semiconductor company's stock after buying an additional 114,465 shares during the quarter. Trexquant Investment LP owned about 0.27% of Cirrus Logic worth $14,370,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRUS. Arizona State Retirement System boosted its holdings in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock valued at $1,543,000 after acquiring an additional 101 shares during the period. Truvestments Capital LLC raised its position in Cirrus Logic by 3.5% in the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock valued at $396,000 after purchasing an additional 133 shares during the last quarter. Captrust Financial Advisors boosted its stake in Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after purchasing an additional 142 shares during the period. Ritholtz Wealth Management grew its position in Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after purchasing an additional 153 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC increased its stake in Cirrus Logic by 40.0% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company's stock valued at $70,000 after purchasing an additional 200 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business'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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is owned by insiders.

Cirrus Logic Trading Down 6.3 %

Shares of CRUS traded down $5.62 during mid-day trading on Friday, hitting $83.23. The company's stock had a trading volume of 1,091,138 shares, compared to its average volume of 599,694. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The firm has a market capitalization of $4.42 billion, a P/E ratio of 15.11 and a beta of 0.95. The firm has a 50-day simple moving average of $102.80 and a 200 day simple moving average of $107.08.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its 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 net margin of 16.55% and a return on equity of 16.60%. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of recent research reports. Barclays increased their price objective 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. Benchmark restated a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cirrus Logic has an average rating of "Moderate Buy" and an average target price of $132.86.

Cirrus Logic 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.