Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,689 shares of the semiconductor company’s stock after purchasing an additional 4,739 shares during the period. Intech Investment Management LLC’s holdings in Cirrus Logic were worth $1,363,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CRUS. Allianz Asset Management GmbH grew its holdings in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after purchasing an additional 387,346 shares in the last quarter. Jupiter Asset Management Ltd. grew its holdings in Cirrus Logic by 7,706.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock valued at $24,893,000 after purchasing an additional 246,775 shares in the last quarter. FMR LLC grew its holdings in Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cirrus Logic by 443.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after purchasing an additional 178,469 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $99.79 on Friday. The firm’s 50-day moving average is $103.35 and its 200-day moving average is $109.70. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year 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 (EPS) 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%. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CRUS. Barclays increased their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 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, Benchmark reiterated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday. One investment 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, Cirrus Logic has a consensus rating of “Moderate Buy” and an average price target of $132.86.

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.