Earnest Partners LLC Has $135.84 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Earnest Partners LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,364,140 shares of the semiconductor company's stock after buying an additional 46,121 shares during the quarter. Earnest Partners LLC owned approximately 2.57% of Cirrus Logic worth $135,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the fourth quarter valued at about $28,000. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $35,000. Headlands Technologies LLC acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at about $39,000. Sound Income Strategies LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new position in Cirrus Logic in the fourth quarter worth approximately $47,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRUS has been the topic of several analyst reports. Barclays dropped their price target 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 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus decreased their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $123.86.

Cirrus Logic Trading Up 3.2 %

Shares of Cirrus Logic stock traded up $3.01 during mid-day trading on Friday, reaching $98.55. 202,103 shares of the stock were exchanged, compared to its average volume of 623,876. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 17.90 and a beta of 0.95. The firm has a 50-day simple moving average of $95.57 and a 200 day simple moving average of $102.45.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates 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, research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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.