Arrowstreet Capital Limited Partnership Buys Shares of 16,977 Cirrus Logic, Inc. (NASDAQ:CRUS)

Arrowstreet Capital Limited Partnership purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 16,977 shares of the semiconductor company's stock, valued at approximately $1,691,000.

A number of other institutional investors have also recently bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new stake in Cirrus Logic during the 3rd quarter valued at $35,000. Sound Income Strategies LLC bought a new position in Cirrus Logic during the fourth quarter worth $46,000. R Squared Ltd acquired a new position in shares of Cirrus Logic in the fourth quarter valued at $47,000. Finally, Quent Capital LLC raised its position in shares of Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Benchmark reiterated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. 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.com, the company presently has an average rating of "Moderate Buy" and an average price target of $132.86.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.02% of the stock is owned by insiders.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $1.47 during midday trading on Wednesday, reaching $85.48. The company's stock had a trading volume of 22,263 shares, compared to its average volume of 614,432. The company has a market cap of $4.54 billion, a P/E ratio of 15.56 and a beta of 0.95. The business's 50 day moving average price is $99.82 and its two-hundred day moving average price is $104.83. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced 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%. Sell-side analysts forecast 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.