Allianz Asset Management GmbH Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Allianz Asset Management GmbH increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 137.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,044,880 shares of the semiconductor company’s stock after acquiring an additional 604,431 shares during the period. Allianz Asset Management GmbH owned approximately 1.97% of Cirrus Logic worth $104,049,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Huntington National Bank raised its holdings in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares during the period. Nisa Investment Advisors LLC increased its position in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares in the last quarter. Westside Investment Management Inc. purchased a new position in Cirrus Logic in the third quarter valued at approximately $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic during the fourth quarter worth approximately $47,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s 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 in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRUS shares. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Wednesday, February 5th. Barclays raised their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Susquehanna upped their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Down 2.0 %

Shares of CRUS opened at $109.07 on Friday. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 19.79 and a beta of 0.91. The business’s 50 day moving average is $103.00 and its two-hundred day moving average is $114.59. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) 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%. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share 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.