Short Interest in Cirrus Logic, Inc. (NASDAQ:CRUS) Increases By 5.7%

Cirrus Logic, Inc. (NASDAQ:CRUS) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,660,000 shares, a growth of 5.7% from the January 15th total of 1,570,000 shares. Based on an average daily trading volume, of 718,000 shares, the short-interest ratio is currently 2.3 days. Currently, 3.1% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated 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 owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Institutional Trading of Cirrus Logic

Several institutional investors and hedge funds have recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cirrus Logic by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,799 shares of the semiconductor company’s stock valued at $20,394,000 after acquiring an additional 18,754 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Cirrus Logic in the fourth quarter worth approximately $1,383,000. Woodline Partners LP bought a new position in Cirrus Logic in the fourth quarter worth approximately $4,998,000. iSAM Funds UK Ltd bought a new position in Cirrus Logic in the fourth quarter worth approximately $234,000. Finally, Vident Advisory LLC raised its stake in Cirrus Logic by 30.0% in the fourth quarter. Vident Advisory LLC now owns 31,770 shares of the semiconductor company’s stock worth $3,164,000 after buying an additional 7,325 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, February 5th. Finally, Barclays boosted 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. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Trading Up 2.0 %

Shares of Cirrus Logic stock traded up $2.14 on Tuesday, hitting $111.20. 869,190 shares of the company traded hands, compared to its average volume of 792,921. The stock’s 50 day moving average price is $102.76 and its 200-day moving average price is $114.66. Cirrus Logic has a 52 week low of $81.30 and a 52 week high of $147.46. The company has a market cap of $5.91 billion, a PE ratio of 20.18 and a beta of 0.91.

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 the consensus estimate 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, research analysts anticipate that Cirrus Logic will post 5.21 EPS for the current fiscal year.

About Cirrus Logic

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.