Wellington Management Group LLP Has $163.64 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Wellington Management Group LLP increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,643,287 shares of the semiconductor company's stock after buying an additional 65,441 shares during the period. Wellington Management Group LLP owned 3.09% of Cirrus Logic worth $163,639,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth $28,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic in the third quarter worth $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the fourth quarter worth $46,000. R Squared Ltd bought a new position in Cirrus Logic during the fourth quarter valued at about $47,000. Finally, Quent Capital LLC lifted its position in shares of Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after buying an additional 296 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CRUS shares. Benchmark reissued a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays lifted 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $132.86.

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Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

Shares of CRUS traded down $0.30 during mid-day trading on Monday, hitting $82.93. The company's stock had a trading volume of 1,316,519 shares, compared to its average volume of 602,550. Cirrus Logic, Inc. has a one year low of $78.50 and a one year high of $147.46. The stock's 50-day moving average is $102.47 and its two-hundred day moving average is $106.68. The firm has a market capitalization of $4.41 billion, a PE ratio of 15.05 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results 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 net margin of 16.55% and a return on equity of 16.60%. Analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal 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.