Versor Investments LP Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Versor Investments LP bought 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 disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,800 shares of the semiconductor company's stock, valued at approximately $777,000.

A number of other large investors have also recently bought and sold shares of CRUS. Allianz Asset Management GmbH raised its position in Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock valued at $104,049,000 after acquiring an additional 604,431 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock valued at $126,247,000 after purchasing an additional 387,346 shares in the last quarter. FMR LLC lifted its stake 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 period. Allspring Global Investments Holdings LLC lifted its stake in shares of Cirrus Logic by 443.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company's stock valued at $21,742,000 after purchasing an additional 178,469 shares during the period. Finally, Burney Co. boosted its holdings in Cirrus Logic by 1,205.3% during the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock worth $15,360,000 after buying an additional 142,430 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on CRUS. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price target on the stock. Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Finally, Susquehanna boosted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of "Moderate Buy" and an average price target of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $2.30 during mid-day trading on Tuesday, reaching $103.98. The company's stock had a trading volume of 286,509 shares, compared to its average volume of 557,112. The stock has a 50-day moving average of $103.43 and a two-hundred day moving average of $113.26. The stock has a market capitalization of $5.53 billion, a P/E ratio of 18.95 and a beta of 0.91. 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 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%. Analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's 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 transaction, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

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.