Bayesian Capital Management LP purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 7,819 shares of the semiconductor company's stock, valued at approximately $779,000.
Several other large investors have also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its stake in Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after purchasing an additional 69,006 shares in the last quarter. Burney Co. increased its position in shares of Cirrus Logic by 1,205.3% during the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock valued at $15,360,000 after acquiring an additional 142,430 shares in the last quarter. KBC Group NV raised its holdings in Cirrus Logic by 52.5% in the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company's stock worth $189,000 after acquiring an additional 653 shares during the last quarter. Franklin Resources Inc. lifted its position in Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after acquiring an additional 62,757 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in Cirrus Logic by 34.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company's stock valued at $13,202,000 after purchasing an additional 33,682 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.
Cirrus Logic Stock Performance
NASDAQ CRUS opened at $98.49 on Tuesday. The business's fifty day moving average is $95.16 and its 200 day moving average is $101.80. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company has a market capitalization of $5.23 billion, a PE ratio of 17.87 and a beta of 0.92.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data 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 net margin of 16.55% and a return on equity of 16.60%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.
Analyst Upgrades and Downgrades
CRUS has been the topic of a number of research analyst reports. Barclays lowered their price target on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Benchmark restated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $123.86.
Check Out Our Latest Report on Cirrus Logic
Cirrus Logic Company Profile
(
Free Report)
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.
Further Reading
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