Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 96,606 Cirrus Logic, Inc. (NASDAQ:CRUS)

Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 96,606 shares of the semiconductor company's stock, valued at approximately $9,620,000. Universal Beteiligungs und Servicegesellschaft mbH owned 0.18% of Cirrus Logic as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of Cirrus Logic by 12.0% in the 4th quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock worth $182,748,000 after acquiring an additional 196,483 shares during the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $1,695,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Cirrus Logic by 10.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 204,799 shares of the semiconductor company's stock valued at $20,394,000 after buying an additional 18,754 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Cirrus Logic during the fourth quarter worth $1,383,000. Finally, Woodline Partners LP purchased a new stake in Cirrus Logic in the 4th quarter valued at $4,998,000. Institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus set a $120.00 target price on shares of Cirrus Logic in a research note on Wednesday, May 7th. Barclays boosted their price target on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 7th. Benchmark reiterated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Wall Street Zen raised Cirrus Logic from a "buy" rating to a "strong-buy" rating in a report on Wednesday, May 28th. One equities research 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $128.33.

Cirrus Logic Stock Performance

NASDAQ CRUS traded up $0.73 during trading on Wednesday, hitting $100.77. 165,219 shares of the company's stock traded hands, compared to its average volume of 634,706. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 18.29 and a beta of 0.92. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The business has a 50 day moving average of $95.10 and a 200-day moving average of $100.51.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $380.26 million. During the same period in the prior year, the company posted $1.24 EPS. Cirrus Logic's revenue was up 14.2% compared to the same quarter last year. On average, analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic announced that its board has authorized a stock repurchase plan on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to reacquire up to 9.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $105.62, for a total value of $105,620.00. Following the transaction, the director now owns 20,907 shares of the company's stock, valued at approximately $2,208,197.34. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

About Cirrus Logic

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.