Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by AlphaQuest LLC

AlphaQuest LLC lifted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,632 shares of the semiconductor company’s stock after buying an additional 2,166 shares during the quarter. AlphaQuest LLC’s holdings in Cirrus Logic were worth $760,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CRUS. Huntington National Bank raised its stake in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the 3rd quarter worth approximately $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the 4th quarter valued at $46,000. Finally, R Squared Ltd acquired a new position in Cirrus Logic in the 4th quarter valued at $47,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CRUS shares. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 5th. Loop Capital started coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Barclays increased their price objective 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. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Susquehanna increased their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Stock Down 2.8 %

Shares of CRUS opened at $101.79 on Wednesday. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46. The company has a market capitalization of $5.41 billion, a PE ratio of 18.47 and a beta of 0.89. The stock has a fifty day simple moving average of $103.77 and a two-hundred day simple moving average of $111.70.

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

Insider Transactions 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 transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Company 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.