Susquehanna Fundamental Investments LLC Acquires New Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 46,134 shares of the semiconductor company's stock, valued at approximately $4,594,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Cirrus Logic as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Cirrus Logic during the 3rd quarter worth approximately $941,000. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic during the third quarter valued at approximately $35,000. Tidal Investments LLC raised its stake in shares of Cirrus Logic by 118.7% during the 3rd quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company's stock worth $1,834,000 after purchasing an additional 8,016 shares during the period. Franklin Resources Inc. boosted its stake in Cirrus Logic by 60.1% in the third quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after acquiring an additional 62,757 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after purchasing an additional 69,006 shares during the period. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Price Performance

Shares of CRUS stock traded up $2.66 during trading hours on Friday, hitting $98.20. The stock had a trading volume of 420,127 shares, compared to its average volume of 626,830. The stock has a market capitalization of $5.22 billion, a price-to-earnings ratio of 17.82 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 stock's 50-day moving average price is $95.38 and its two-hundred day moving average price is $101.99.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results 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 return on equity of 16.60% and a net margin of 16.55%. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRUS. Stifel Nicolaus dropped their price objective on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Barclays reduced their price objective on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Benchmark restated a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and an average price target of $123.86.

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.