Cirrus Logic, Inc. (NASDAQ:CRUS) Holdings Raised by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 85.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 69,765 shares of the semiconductor company's stock after buying an additional 32,049 shares during the quarter. Bridgewater Associates LP owned approximately 0.13% of Cirrus Logic worth $6,947,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in CRUS. Westside Investment Management Inc. purchased a new position in Cirrus Logic in the 3rd quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in Cirrus Logic during the fourth quarter worth approximately $39,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $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 Analyst Weigh In

A number of research firms recently issued reports on CRUS. Benchmark restated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Stifel Nicolaus cut their target price on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Finally, Barclays raised their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a report 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 data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $128.86.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS traded up $1.10 during midday trading on Tuesday, reaching $86.88. The company had a trading volume of 93,397 shares, compared to its average volume of 619,908. The stock has a market capitalization of $4.62 billion, a P/E ratio of 15.77 and a beta of 0.95. The stock's fifty day moving average price is $98.30 and its 200-day moving average price is $103.74. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results 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 return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's 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 $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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.