Kera Capital Partners Inc. Invests $314,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Kera Capital Partners Inc. acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,147 shares of the semiconductor company's stock, valued at approximately $314,000.

A number of other hedge funds also recently added to or reduced their stakes in CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the fourth quarter worth approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at $39,000. Quent Capital LLC boosted its stake in Cirrus Logic by 167.2% during the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after buying an additional 296 shares in the last quarter. R Squared Ltd acquired a new position in Cirrus Logic during the fourth quarter worth about $47,000. Finally, Transce3nd LLC bought a new stake in Cirrus Logic in the fourth quarter worth about $63,000. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CRUS. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark restated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Wall Street Zen upgraded shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Barclays upped their target price 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 investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Cirrus Logic has a consensus rating of "Buy" and an average price target of $128.33.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS traded down $2.01 during midday trading on Friday, reaching $97.80. The company's stock had a trading volume of 616,371 shares, compared to its average volume of 634,954. The business's fifty day simple moving average is $95.28 and its 200-day simple moving average is $100.54. The company has a market capitalization of $5.04 billion, a P/E ratio of 17.75 and a beta of 0.92. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share (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 company had revenue of $424.46 million for the quarter, compared to analyst estimates of $380.26 million. During the same quarter last year, the firm earned $1.24 EPS. The company's revenue for the quarter was up 14.2% on a year-over-year basis. On average, analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic declared that its Board of Directors has approved a share 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 often an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.62, for a total transaction of $105,620.00. Following the completion of the transaction, the director now directly owns 20,907 shares in the company, valued at $2,208,197.34. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.02% of the company's stock.

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.