Hillsdale Investment Management Inc. Buys 330 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Hillsdale Investment Management Inc. raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,530 shares of the semiconductor company’s stock after buying an additional 330 shares during the period. Hillsdale Investment Management Inc.’s holdings in Cirrus Logic were worth $750,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its position in shares of Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after buying an additional 129,457 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Cirrus Logic by 4.7% in the 3rd 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. JPMorgan Chase & Co. grew its position in shares of Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after buying an additional 69,006 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cirrus Logic in the 3rd quarter valued at about $2,543,000. Finally, Hancock Whitney Corp bought a new stake in shares of Cirrus Logic in the 3rd quarter valued at about $898,000. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Benchmark restated a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. 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 upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

CRUS stock opened at $99.79 on Monday. The stock’s 50 day simple moving average is $103.35 and its 200 day simple moving average is $109.30. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The company has a market cap of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last posted 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 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.

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.