XTX Topco Ltd bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,542 shares of the semiconductor company's stock, valued at approximately $353,000.
Several other hedge funds have also recently added to or reduced their stakes in the business. Arizona State Retirement System increased its position in Cirrus Logic by 0.7% in the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock valued at $1,543,000 after acquiring an additional 101 shares in the last quarter. Truvestments Capital LLC raised its holdings in Cirrus Logic by 3.5% in the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after purchasing an additional 133 shares during the period. Ritholtz Wealth Management lifted its holdings in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 153 shares in the last quarter. Covestor Ltd increased its position in shares of Cirrus Logic by 21.5% during the fourth quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock worth $106,000 after acquiring an additional 187 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.
Insider Buying and Selling
In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company'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 sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.02% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research analysts have 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 for the company in a research note on Thursday, April 17th. Barclays dropped their target price on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Benchmark reiterated a "buy" rating and set a $125.00 target price 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $123.86.
Get Our Latest Stock Report on CRUS
Cirrus Logic Stock Down 0.1 %
Shares of NASDAQ:CRUS traded down $0.13 during trading on Tuesday, hitting $93.54. 44,486 shares of the company were exchanged, compared to its average volume of 621,805. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The company has a market capitalization of $4.97 billion, a P/E ratio of 16.92 and a beta of 0.95. The business's 50 day moving average is $96.44 and its 200-day moving average is $102.75.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.
Cirrus Logic Company Profile
(
Free Report)
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.
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