Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 30.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,305 shares of the semiconductor company's stock after purchasing an additional 40,727 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.33% of Cirrus Logic worth $17,271,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Arizona State Retirement System boosted its stake in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock worth $1,543,000 after acquiring an additional 101 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Cirrus Logic by 3.5% during the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after purchasing an additional 133 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Cirrus Logic by 17.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after buying an additional 155 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Cirrus Logic by 0.3% in the first quarter. State of Alaska Department of Revenue now owns 55,852 shares of the semiconductor company's stock valued at $5,565,000 after acquiring an additional 165 shares in the last quarter. Finally, Covestor Ltd raised its position in Cirrus Logic by 21.5% in the 4th quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the transaction, the executive vice president now owns 14,001 shares of the company's stock, valued at $1,400,100. This trade represents a 41.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total value of $105,620.00. Following the sale, the director now owns 20,907 shares of the company's stock, valued at $2,208,197.34. This represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,000 shares of company stock worth $1,305,620. 1.16% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark reaffirmed a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays increased 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. Finally, Wall Street Zen downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Thursday, June 5th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus target price of $128.33.

Cirrus Logic Trading Down 1.4%

CRUS stock opened at $105.98 on Friday. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 17.63 and a beta of 0.93. The firm has a 50 day moving average of $100.71 and a 200-day moving average of $100.41.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.15 by $0.52. The company had revenue of $424.46 million during the quarter, compared to analysts' expectations of $380.26 million. Cirrus Logic had a net margin of 17.48% and a return on equity of 17.66%. The firm's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 earnings per share. Sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its board has initiated a stock repurchase program on Tuesday, May 6th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Cirrus Logic 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.