Jacobs Levy Equity Management Inc. Buys 10,349 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Jacobs Levy Equity Management Inc. lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,436 shares of the semiconductor company's stock after acquiring an additional 10,349 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.79% of Cirrus Logic worth $42,066,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $28,000. Headlands Technologies LLC purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $39,000. Sound Income Strategies LLC purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $46,000. R Squared Ltd purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $47,000. Finally, Quent Capital LLC boosted its holdings in shares of Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after buying an additional 296 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of research analyst reports. Benchmark reissued a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a report on Wednesday, May 7th. Finally, 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $128.33.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $0.66 during trading on Friday, hitting $106.23. 571,723 shares of the company's stock traded hands, compared to its average volume of 630,548. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 19.28 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 $94.98 and a 200-day moving average of $100.80.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.15 by $0.52. The business had revenue of $424.46 million for the quarter, compared to the consensus estimate of $380.26 million. Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. The company's revenue was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.24 earnings per share. On average, analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic announced that its Board of Directors has authorized a stock buyback plan on Tuesday, May 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Cirrus Logic Company 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.