Tower Research Capital LLC TRC Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Tower Research Capital LLC TRC boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 121.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,421 shares of the semiconductor company's stock after acquiring an additional 2,974 shares during the quarter. Tower Research Capital LLC TRC's holdings in Cirrus Logic were worth $540,000 as of its most recent filing with the Securities and Exchange Commission.

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

Cirrus Logic Trading Up 2.8 %

Shares of CRUS stock traded up $2.66 during mid-day trading on Friday, reaching $98.20. The stock had a trading volume of 420,127 shares, compared to its average volume of 626,830. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The business has a 50-day simple moving average of $95.38 and a 200 day simple moving average of $101.99. The company has a market cap of $5.22 billion, a P/E ratio of 17.82 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate 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 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on CRUS shares. Stifel Nicolaus decreased their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Barclays cut their price target on shares of Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $123.86.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company's stock.

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.