Quantinno Capital Management LP Has $10.76 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Quantinno Capital Management LP raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 14.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,046 shares of the semiconductor company's stock after purchasing an additional 13,584 shares during the quarter. Quantinno Capital Management LP owned about 0.20% of Cirrus Logic worth $10,759,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $39,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $46,000. R Squared Ltd acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $47,000. Finally, Quent Capital LLC increased its stake in shares of Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Stock Down 0.6%

Cirrus Logic stock traded down $0.66 during mid-day trading on Friday, hitting $106.23. The company's stock had a trading volume of 571,723 shares, compared to its average volume of 630,548. The stock has a market capitalization of $5.65 billion, a P/E ratio of 19.28 and a beta of 0.92. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The stock's fifty day moving average price is $94.98 and its two-hundred day moving average price is $100.80.

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

Cirrus Logic declared that its board has initiated a stock buyback program 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CRUS shares. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research note on Wednesday, May 7th. Barclays raised their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 7th. Finally, Benchmark reiterated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $128.33.

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.