13,891 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Acquired by Voloridge Investment Management LLC

Voloridge Investment Management LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,891 shares of the semiconductor company's stock, valued at approximately $1,383,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic during the fourth quarter worth about $28,000. Headlands Technologies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $39,000. Quent Capital LLC boosted its stake in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 296 shares during the period. R Squared Ltd acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $47,000. Finally, Transce3nd LLC bought a new stake in Cirrus Logic in the 4th quarter valued at $63,000. 87.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CRUS shares. Wall Street Zen raised shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, May 28th. Benchmark reaffirmed a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays upped their price target on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of "Buy" and a consensus price target of $128.33.

Cirrus Logic Trading Down 0.6%

CRUS stock traded down $0.62 during trading hours on Monday, hitting $97.74. 558,920 shares of the stock were exchanged, compared to its average volume of 635,276. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The firm has a market capitalization of $5.04 billion, a P/E ratio of 17.74 and a beta of 0.92. The company has a 50-day simple moving average of $95.17 and a two-hundred day simple moving average of $100.51.

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

Cirrus Logic announced that its board has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to buy up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total transaction of $105,620.00. Following the completion of the sale, the director now directly owns 20,907 shares in the company, valued at approximately $2,208,197.34. This represents a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company's stock.

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.