Wellington Management Group LLP Has $163.64 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Wellington Management Group LLP boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,643,287 shares of the semiconductor company’s stock after purchasing an additional 65,441 shares during the quarter. Wellington Management Group LLP owned about 3.09% of Cirrus Logic worth $163,639,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the 4th quarter valued at about $28,000. Westside Investment Management Inc. bought a new position in Cirrus Logic during the 3rd quarter worth $35,000. Sound Income Strategies LLC bought a new stake in shares of Cirrus Logic in the fourth quarter valued at about $46,000. R Squared Ltd acquired a new position in shares of Cirrus Logic in the fourth quarter valued at about $47,000. Finally, Quent Capital LLC increased its position in Cirrus Logic by 167.2% during the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 296 shares during the period. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $98.58 on Thursday. The business has a fifty day moving average price of $103.40 and a two-hundred day moving average price of $107.62. The stock has a market capitalization of $5.24 billion, a PE ratio of 17.89 and a beta of 0.89. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of analyst reports. 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 boosted their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by insiders.

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.