Oxford Asset Management LLP Makes New $738,000 Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

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Oxford Asset Management LLP purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 8,959 shares of the semiconductor company’s stock, valued at approximately $738,000.

A number of other institutional investors have also modified their holdings of the business. Parametric Portfolio Associates LLC lifted its position in Cirrus Logic by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 170,780 shares of the semiconductor company’s stock valued at $9,150,000 after acquiring an additional 9,428 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Cirrus Logic in the 3rd quarter valued at approximately $1,724,000. Bank of Montreal Can grew its stake in Cirrus Logic by 266.4% in the 4th quarter. Bank of Montreal Can now owns 24,943 shares of the semiconductor company’s stock valued at $2,055,000 after buying an additional 18,136 shares in the last quarter. DNB Asset Management AS purchased a new position in Cirrus Logic in the 4th quarter valued at approximately $19,271,000. Finally, Anderson Fisher LLC purchased a new position in Cirrus Logic in the 4th quarter valued at approximately $81,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.

In other news, VP Bradley J. Fluke sold 11,000 shares of Cirrus Logic stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $78.80, for a total transaction of $866,800.00. Following the completion of the sale, the vice president now directly owns 5,120 shares of the company’s stock, valued at approximately $403,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason P. Rhode sold 85,091 shares of Cirrus Logic stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $79.24, for a total transaction of $6,742,610.84. Following the sale, the chief executive officer now directly owns 302,999 shares of the company’s stock, valued at $24,009,640.76. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.

Shares of CRUS traded up $5.55 during mid-day trading on Thursday, reaching $65.63. 931,440 shares of the stock traded hands, compared to its average volume of 985,625. The firm has a fifty day moving average price of $69.61 and a 200 day moving average price of $69.52. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.10. The company has a current ratio of 4.01, a quick ratio of 3.23 and a debt-to-equity ratio of 0.11. Cirrus Logic, Inc. has a 1 year low of $37.24 and a 1 year high of $91.63.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.27. The firm had revenue of $374.67 million during the quarter, compared to analyst estimates of $345.33 million. Cirrus Logic had a net margin of 12.52% and a return on equity of 15.06%. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.91 EPS. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 3.05 EPS for the current year.

A number of research analysts recently weighed in on CRUS shares. Benchmark lifted their price objective on shares of Cirrus Logic from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Craig Hallum lifted their price objective on shares of Cirrus Logic from $52.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $94.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Bank of America lifted their price objective on shares of Cirrus Logic from $64.00 to $76.00 and gave the company an “underperform” rating in a research note on Thursday, January 30th. Finally, Cowen upgraded shares of Cirrus Logic from a “market perform” rating to an “outperform” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Cirrus Logic presently has a consensus rating of “Buy” and an average price target of $78.70.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

Further Reading: Options Trading

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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