Y Intercept Hong Kong Ltd Has $1.52 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 25.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,243 shares of the semiconductor company’s stock after selling 5,233 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Cirrus Logic were worth $1,518,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares in the last quarter. Geode Capital Management LLC raised its position in Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after acquiring an additional 50,582 shares in the last quarter. JPMorgan Chase & Co. raised its position in Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after acquiring an additional 69,006 shares in the last quarter. Sheaff Brock Investment Advisors LLC bought a new stake in Cirrus Logic during the third quarter worth $1,752,000. Finally, Raymond James & Associates raised its position in Cirrus Logic by 48.4% during the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after acquiring an additional 10,919 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $107.48 on Wednesday. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 19.51 and a beta of 0.91. The firm’s 50-day simple moving average is $103.15 and its 200 day simple moving average is $114.18.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 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%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic 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 transaction of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is owned by insiders.

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.