Caisse DE Depot ET Placement DU Quebec Has $43.07 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Caisse DE Depot ET Placement DU Quebec raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 228.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 432,495 shares of the semiconductor company's stock after acquiring an additional 300,942 shares during the period. Caisse DE Depot ET Placement DU Quebec owned approximately 0.81% of Cirrus Logic worth $43,068,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. LSV Asset Management boosted its stake in Cirrus Logic by 7.3% during the 4th quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company's stock valued at $224,728,000 after purchasing an additional 154,048 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Cirrus Logic by 4.1% during the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company's stock valued at $163,639,000 after buying an additional 65,441 shares during the last quarter. Earnest Partners LLC grew its holdings in Cirrus Logic by 3.5% during the fourth quarter. Earnest Partners LLC now owns 1,364,140 shares of the semiconductor company's stock worth $135,841,000 after buying an additional 46,121 shares in the last quarter. Pacer Advisors Inc. raised its position in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock valued at $126,247,000 after buying an additional 387,346 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Cirrus Logic by 0.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,247,535 shares of the semiconductor company's stock valued at $124,234,000 after acquiring an additional 3,347 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on CRUS shares. Barclays dropped their target price on shares of Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their target price on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $123.86.

Insiders Place Their Bets

In other 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $98.20 on Friday. The business's fifty day moving average is $95.38 and its 200 day moving average is $102.27. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The company has a market capitalization of $5.22 billion, a PE ratio of 17.82 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) 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%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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.

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