Deutsche Bank AG Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Deutsche Bank AG lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 139.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 586,733 shares of the semiconductor company's stock after acquiring an additional 341,615 shares during the period. Deutsche Bank AG owned 1.10% of Cirrus Logic worth $58,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LSV Asset Management lifted its holdings in shares of Cirrus Logic by 7.3% during the fourth quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company's stock worth $224,728,000 after purchasing an additional 154,048 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in Cirrus Logic during the 4th quarter worth approximately $170,796,000. Wellington Management Group LLP lifted its stake in Cirrus Logic by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company's stock valued at $163,639,000 after acquiring an additional 65,441 shares during the period. Earnest Partners LLC boosted its holdings in shares of Cirrus Logic by 3.5% in the 4th quarter. Earnest Partners LLC now owns 1,364,140 shares of the semiconductor company's stock valued at $135,841,000 after acquiring an additional 46,121 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock worth $126,247,000 after acquiring an additional 387,346 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $120.00 target price on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark reiterated a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays upped their price objective on Cirrus Logic from $80.00 to $90.00 and gave the stock 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 issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $128.33.

Cirrus Logic Trading Up 5.3%

NASDAQ CRUS opened at $105.83 on Tuesday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 19.21 and a beta of 0.92. The stock has a 50-day moving average of $94.80 and a 200 day moving average of $101.02. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46.

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

Cirrus Logic announced that its Board of Directors has initiated a stock buyback plan on Tuesday, May 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.

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