Robeco Institutional Asset Management B.V. lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 173,305 shares of the semiconductor company's stock after acquiring an additional 40,727 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.33% of Cirrus Logic worth $17,271,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the 4th quarter valued at approximately $28,000. Headlands Technologies LLC bought a new position in Cirrus Logic during the 4th quarter worth $39,000. UMB Bank n.a. lifted its holdings in Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after buying an additional 290 shares during the period. Transce3nd LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $63,000. Finally, Menard Financial Group LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $67,000. Institutional investors own 87.96% of the company's stock.
Insiders Place Their Bets
In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of Cirrus Logic stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president directly owned 14,001 shares in the company, valued at approximately $1,400,100. This trade represents a 41.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Carl Jackson Alberty sold 2,000 shares of the business's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $100.00, for a total value of $200,000.00. Following the completion of the transaction, the executive vice president directly owned 41,645 shares in the company, valued at approximately $4,164,500. This represents a 4.58% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,000 shares of company stock valued at $1,305,620. Corporate insiders own 1.16% of the company's stock.
Cirrus Logic Trading Up 0.2%
Shares of NASDAQ:CRUS traded up $0.18 during mid-day trading on Wednesday, hitting $109.17. 205,597 shares of the company traded hands, compared to its average volume of 634,571. The stock has a 50-day moving average price of $101.52 and a two-hundred day moving average price of $100.42. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The stock has a market cap of $5.60 billion, a P/E ratio of 18.16 and a beta of 0.95.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.52. Cirrus Logic had a net margin of 17.48% and a return on equity of 17.66%. The firm had revenue of $424.46 million for the quarter, compared to the consensus estimate of $380.26 million. During the same period in the previous year, the firm earned $1.24 EPS. The business's revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.
Cirrus Logic announced that its board has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 9.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.
Analysts Set New Price Targets
CRUS has been the topic of a number of recent analyst reports. Wall Street Zen lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Thursday, June 5th. Benchmark restated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays increased their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 target price on shares of Cirrus Logic in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and an average target price of $128.33.
Get Our Latest Analysis on CRUS
Cirrus Logic Company Profile
(
Free Report)
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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