Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Xponance Inc.

Xponance Inc. raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,256 shares of the semiconductor company’s stock after purchasing an additional 337 shares during the quarter. Xponance Inc.’s holdings in Cirrus Logic were worth $723,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Intech Investment Management LLC lifted its holdings in Cirrus Logic by 52.9% in the fourth quarter. Intech Investment Management LLC now owns 13,689 shares of the semiconductor company’s stock valued at $1,363,000 after acquiring an additional 4,739 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Cirrus Logic by 4.1% during the 4th quarter. Royce & Associates LP now owns 647,332 shares of the semiconductor company’s stock worth $64,461,000 after purchasing an additional 25,746 shares during the period. Natixis Advisors LLC increased its position in shares of Cirrus Logic by 8.3% during the 4th quarter. Natixis Advisors LLC now owns 109,965 shares of the semiconductor company’s stock worth $10,950,000 after purchasing an additional 8,459 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Cirrus Logic by 62.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 3,543 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 1,368 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ lifted its position in Cirrus Logic by 179.4% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 46,706 shares of the semiconductor company’s stock valued at $4,679,000 after buying an additional 29,990 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Trading Up 2.8 %

Cirrus Logic stock opened at $102.58 on Tuesday. The firm has a market capitalization of $5.45 billion, a P/E ratio of 18.62 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The stock’s fifty day simple moving average is $103.40 and its 200-day simple moving average is $109.05.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale 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 corporate insiders.

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.