Harber Asset Management LLC Has $6.34 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Harber Asset Management LLC lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,642 shares of the semiconductor company's stock after purchasing an additional 8,187 shares during the quarter. Cirrus Logic accounts for approximately 1.9% of Harber Asset Management LLC's investment portfolio, making the stock its 26th biggest holding. Harber Asset Management LLC owned 0.12% of Cirrus Logic worth $6,337,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the 3rd quarter worth about $35,000. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $39,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the 4th quarter valued at approximately $46,000. Finally, R Squared Ltd bought a new position in shares of Cirrus Logic in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Trading Up 0.1 %

Cirrus Logic stock traded up $0.06 during trading hours on Friday, reaching $85.58. 519,758 shares of the stock were exchanged, compared to its average volume of 620,135. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The company has a market cap of $4.55 billion, a P/E ratio of 15.53 and a beta of 0.95. The stock has a 50 day moving average of $98.66 and a two-hundred day moving average of $104.20.

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

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 completion of the transaction, the executive vice president now owns 8,330 shares of the company's stock, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on CRUS shares. Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Benchmark restated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cirrus Logic has an average rating of "Moderate Buy" and an average target price of $128.86.

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.