Swiss National Bank Decreases Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Swiss National Bank reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 107,800 shares of the semiconductor company's stock after selling 12,500 shares during the period. Swiss National Bank owned approximately 0.20% of Cirrus Logic worth $8,968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Cirrus Logic by 17.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,511 shares of the semiconductor company's stock valued at $777,000 after purchasing an additional 1,527 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Cirrus Logic by 71.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company's stock valued at $53,000 after buying an additional 300 shares in the last quarter. Duality Advisers LP grew its stake in shares of Cirrus Logic by 432.7% during the 3rd quarter. Duality Advisers LP now owns 30,219 shares of the semiconductor company's stock valued at $2,235,000 after acquiring an additional 24,546 shares during the period. California Public Employees Retirement System increased its holdings in Cirrus Logic by 4.6% in the 3rd quarter. California Public Employees Retirement System now owns 301,892 shares of the semiconductor company's stock worth $22,328,000 after acquiring an additional 13,194 shares in the last quarter. Finally, LSV Asset Management increased its holdings in Cirrus Logic by 0.9% in the 3rd quarter. LSV Asset Management now owns 1,307,419 shares of the semiconductor company's stock worth $96,697,000 after acquiring an additional 12,300 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $2.89 during trading on Tuesday, hitting $110.67. The stock had a trading volume of 800,874 shares, compared to its average volume of 438,527. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $111.74. The firm's fifty day simple moving average is $91.11 and its 200-day simple moving average is $84.56. The stock has a market cap of $5.97 billion, a PE ratio of 22.45 and a beta of 0.99.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRUS. Barclays increased their price objective on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 8th. TheStreet upgraded Cirrus Logic from a "c+" rating to a "b-" rating in a research report on Tuesday, January 23rd. KeyCorp increased their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, May 8th. Susquehanna raised their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a "positive" rating in a research note on Wednesday, May 8th. Finally, TD Cowen increased their price objective on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 8th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $107.86.

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 4,000 shares of the firm's stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the sale, the senior vice president now directly owns 5,838 shares of the company's stock, valued at approximately $629,628.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company's stock, valued at $548,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 4,000 shares of the business's stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares of the company's stock, valued at approximately $629,628.30. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate 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.