Mackenzie Financial Corp Has $206.79 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mackenzie Financial Corp grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,485,746 shares of the semiconductor company's stock after purchasing an additional 35,722 shares during the quarter. Mackenzie Financial Corp owned approximately 4.61% of Cirrus Logic worth $206,789,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in CRUS. Wellington Management Group LLP lifted its holdings in shares of Cirrus Logic by 183.8% in the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company's stock valued at $167,214,000 after purchasing an additional 1,277,213 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Cirrus Logic by 1,389.2% during the first quarter. Envestnet Asset Management Inc. now owns 840,607 shares of the semiconductor company's stock worth $6,004,000 after buying an additional 784,161 shares during the last quarter. Norges Bank acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $43,435,000. FMR LLC grew its position in shares of Cirrus Logic by 4.5% in the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company's stock valued at $558,593,000 after purchasing an additional 327,269 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Cirrus Logic by 8,646.5% in the fourth quarter. Millennium Management LLC now owns 320,820 shares of the semiconductor company's stock valued at $23,895,000 after purchasing an additional 317,152 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Price Performance

NASDAQ CRUS traded down $1.59 during mid-day trading on Monday, reaching $86.97. 274,493 shares of the stock were exchanged, compared to its average volume of 424,383. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $95.87. The stock has a 50 day simple moving average of $90.67 and a 200-day simple moving average of $81.34. The stock has a market cap of $4.69 billion, a P/E ratio of 27.81 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. TD Cowen increased their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an "outperform" rating in a research note on Wednesday, February 7th. StockNews.com raised shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a research note on Friday. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, February 7th. TheStreet upgraded shares of Cirrus Logic from a "c+" rating to a "b-" rating in a research note on Tuesday, January 23rd. Finally, Barclays raised their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an "overweight" rating in a research note on Tuesday, January 16th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cirrus Logic currently has a consensus rating of "Buy" and an average target price of $96.43.

Insider Transactions at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares of the company's stock, valued at $150,765. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock valued at $700,292 over the last ninety days. 0.89% of the stock is currently owned by insiders.

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 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 digital signal processing; boosted amplifiers; 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.