2,800 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Acquired by Crestline Management LP

Crestline Management LP acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,800 shares of the semiconductor company's stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Burney Co. lifted its holdings in 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 purchasing an additional 142,430 shares in the last quarter. KBC Group NV raised its position in shares of Cirrus Logic by 52.5% during the fourth quarter. KBC Group NV now owns 1,896 shares of the semiconductor company's stock valued at $189,000 after buying an additional 653 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Cirrus Logic by 34.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company's stock valued at $13,202,000 after buying an additional 33,682 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Cirrus Logic by 44.0% during the fourth 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, Janney Montgomery Scott LLC increased its position in Cirrus Logic by 8.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,992 shares of the semiconductor company's stock worth $298,000 after purchasing an additional 221 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRUS shares. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark reiterated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays boosted their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $128.33.

Cirrus Logic Stock Performance

CRUS stock traded down $0.66 during mid-day trading on Friday, reaching $106.23. 571,723 shares of the stock traded hands, compared to its average volume of 630,548. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The stock has a market capitalization of $5.65 billion, a PE ratio of 19.28 and a beta of 0.92. The business has a 50-day moving average price of $94.98 and a two-hundred day moving average price of $100.80.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.52. The firm had revenue of $424.46 million during the quarter, compared to analyst estimates of $380.26 million. Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. The business's revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.24 earnings per share. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

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.