Robeco Institutional Asset Management B.V. Buys 91,918 Shares of Cirrus Logic, Inc. $CRUS

Key Points

• Robeco Institutional Asset Management boosted its stake in Cirrus Logic by 26.6% in Q4, buying 91,918 shares to hold 436,989 shares (about 0.86% of the company) valued at roughly $51.8 million; institutional investors now own 87.96% of the stock.
• EPS beat: Cirrus Logic topped estimates in its most recent quarter with $2.97 EPS vs. $2.37 expected and $580.6M revenue vs. $531.4M expected (revenue +4.5% YoY), and the stock trades near its 1‑year high with a $8.22B market cap and a 21.23 P/E.
• Insiders have sold about 37,987 shares (~$5.43M) in the last three months (including sales by the CEO and an EVP), while analysts maintain a consensus Moderate Buy rating and a $150.43 average price target.

Robeco Institutional Asset Management B.V. boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 436,989 shares of the semiconductor company's stock after purchasing an additional 91,918 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.86% of Cirrus Logic worth $51,783,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company's stock worth $829,724,000 after purchasing an additional 268,560 shares during the period. Earnest Partners LLC boosted its stake in Cirrus Logic by 0.8% in the 3rd quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company's stock worth $168,980,000 after purchasing an additional 10,750 shares during the period. Sei Investments Co. boosted its stake in Cirrus Logic by 2.2% in the 3rd quarter. Sei Investments Co. now owns 926,958 shares of the semiconductor company's stock worth $116,140,000 after purchasing an additional 20,381 shares during the period. Royce & Associates LP raised its holdings in shares of Cirrus Logic by 5.1% in the 3rd quarter. Royce & Associates LP now owns 713,999 shares of the semiconductor company's stock valued at $89,457,000 after acquiring an additional 34,839 shares in the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Cirrus Logic by 5.5% in the 3rd quarter. DNB Asset Management AS now owns 532,180 shares of the semiconductor company's stock valued at $66,677,000 after acquiring an additional 27,706 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Trading Up 0.7%

Shares of NASDAQ CRUS opened at $161.10 on Tuesday. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 21.23 and a beta of 1.08. Cirrus Logic, Inc. has a 1-year low of $83.04 and a 1-year high of $162.51. The stock's 50-day moving average is $141.80 and its 200 day moving average is $130.02.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to analysts' expectations of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period last year, the firm posted $2.51 EPS. On average, analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, EVP Scott Thomas sold 9,942 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares of the company's stock, valued at approximately $4,866,223.23. This trade represents a 24.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the completion of the transaction, the chief executive officer directly owned 50,723 shares in the company, valued at $6,855,213.45. This trade represents a 30.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 37,987 shares of company stock valued at $5,427,114. Corporate insiders own 1.16% of the company's stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several recent analyst reports. Benchmark raised their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Barclays raised their price target on Cirrus Logic from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. KeyCorp raised their price target on Cirrus Logic from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, April 6th. Loop Capital cut Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a report on Monday, February 2nd. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Cirrus Logic in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.43.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

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