Optimize Financial Inc Purchases New Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Optimize Financial Inc purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,082 shares of the semiconductor company's stock, valued at approximately $1,303,000. Cirrus Logic makes up approximately 1.0% of Optimize Financial Inc's portfolio, making the stock its 26th largest position.

A number of other large investors have also recently added to or reduced their stakes in the stock. Captrust Financial Advisors lifted its stake in Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after purchasing an additional 142 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Cirrus Logic by 16.6% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 3,752 shares of the semiconductor company's stock worth $425,000 after buying an additional 535 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at about $243,000. National Bank of Canada FI bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $186,000. Finally, MML Investors Services LLC raised its stake in Cirrus Logic by 5.4% during the third quarter. MML Investors Services LLC now owns 4,119 shares of the semiconductor company's stock worth $512,000 after acquiring an additional 212 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Trading Up 0.1 %

Shares of NASDAQ CRUS traded up $0.06 during midday trading on Thursday, reaching $85.58. The company's stock had a trading volume of 519,758 shares, compared to its average volume of 617,187. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 15.53 and a beta of 0.95. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The company has a 50 day moving average price of $99.39 and a 200 day moving average price of $104.70.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of research reports. Barclays lifted their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. Stifel Nicolaus reduced their price objective on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Benchmark reaffirmed a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $128.86.

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 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.