Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 46.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,225 shares of the semiconductor company's stock after buying an additional 2,620 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Cirrus Logic were worth $819,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CRUS. Arizona State Retirement System lifted its stake in shares of Cirrus Logic by 0.7% during the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock worth $1,543,000 after purchasing an additional 101 shares during the last quarter. Truvestments Capital LLC lifted its position in shares of Cirrus Logic by 3.5% during the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock valued at $396,000 after buying an additional 133 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Cirrus Logic by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock valued at $391,000 after buying an additional 153 shares in the last quarter. Covestor Ltd grew its position in shares of Cirrus Logic by 21.5% in the 4th quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock worth $106,000 after buying an additional 187 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC raised its stake in shares of Cirrus Logic by 40.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company's stock worth $70,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Price Performance

CRUS traded up $2.98 on Friday, reaching $100.55. 741,572 shares of the stock were exchanged, compared to its average volume of 628,775. The company's 50-day moving average price is $94.79 and its 200 day moving average price is $101.13. The firm has a market capitalization of $5.34 billion, a PE ratio of 18.25 and a beta of 0.92. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

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

Cirrus Logic declared that its board has initiated a share repurchase plan on Tuesday, May 6th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the semiconductor company to repurchase up to 9.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on CRUS. Stifel Nicolaus set a $120.00 target price on shares of Cirrus Logic in a research note on Wednesday. Benchmark restated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Barclays boosted their target price on Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of "Moderate Buy" and an average target price of $128.33.

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.