Vontobel Holding Ltd. Increases Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Vontobel Holding Ltd. raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 47.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,480 shares of the semiconductor company's stock after purchasing an additional 3,680 shares during the period. Vontobel Holding Ltd.'s holdings in Cirrus Logic were worth $1,143,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Huntington National Bank raised its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the third quarter worth approximately $31,000. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic during the 3rd quarter worth approximately $35,000. Finally, Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $46,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. Benchmark raised Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective on the stock in a report on Wednesday, February 5th. Loop Capital began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Barclays upped their target price 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. Finally, StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and an average price target of $132.86.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Trading Down 2.0 %

Shares of NASDAQ CRUS traded down $2.23 during midday trading on Friday, reaching $109.07. 787,449 shares of the company were exchanged, compared to its average volume of 780,081. The stock has a fifty day simple moving average of $102.96 and a 200 day simple moving average of $114.61. The stock has a market cap of $5.80 billion, a P/E ratio of 19.79 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 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 net margin of 16.55% and a return on equity of 16.60%. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

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.