Van ECK Associates Corp Boosts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 56.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,633 shares of the semiconductor company's stock after acquiring an additional 19,979 shares during the period. Van ECK Associates Corp owned 0.10% of Cirrus Logic worth $5,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after purchasing an additional 217,404 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock valued at $126,247,000 after buying an additional 387,346 shares during the last quarter. Geode Capital Management LLC lifted its stake in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock valued at $141,414,000 after buying an additional 50,582 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after acquiring an additional 129,457 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock worth $36,811,000 after acquiring an additional 69,006 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Barclays upped their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price target on the stock in a research report on Wednesday, February 5th. Susquehanna increased their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research report on Monday, November 18th. Finally, Stifel Nicolaus dropped their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction that occurred 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 owns 8,330 shares of the company's stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Stock Performance

CRUS traded down $2.23 during trading on Friday, reaching $109.07. The company's stock had a trading volume of 787,449 shares, compared to its average volume of 780,081. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 19.79 and a beta of 0.91. The company's fifty day moving average price is $102.96 and its 200-day moving average price is $114.61. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46.

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 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 analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

About Cirrus Logic

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.