May Hill Capital LLC Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

May Hill Capital LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 2,107 shares of the semiconductor company’s stock, valued at approximately $210,000.

A number of other large investors have also bought and sold shares of CRUS. Geode Capital Management LLC increased its stake in shares of Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after buying an additional 50,582 shares during the period. JPMorgan Chase & Co. increased its position in shares of Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after acquiring an additional 69,006 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Cirrus Logic during the third quarter worth about $2,543,000. Burney Co. grew its stake in shares of Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after purchasing an additional 142,430 shares during the last quarter. Finally, KBC Group NV increased its holdings in Cirrus Logic by 52.5% during the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 653 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent analyst reports. Benchmark reiterated a “buy” rating and issued a $125.00 price objective 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 objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Insider Activity at Cirrus Logic

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

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $99.83 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The firm has a market cap of $5.31 billion, a price-to-earnings ratio of 18.12 and a beta of 0.89. The company has a 50-day moving average of $103.44 and a 200 day moving average of $107.69.

Cirrus Logic (NASDAQ:CRUS) last announced its 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%. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS 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.