Alpha DNA Investment Management LLC acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,572 shares of the semiconductor company’s stock, valued at approximately $129,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in CRUS. Amundi Pioneer Asset Management Inc. boosted its holdings in shares of Cirrus Logic by 175.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 7,854 shares of the semiconductor company’s stock worth $330,000 after buying an additional 5,000 shares during the period. Guggenheim Capital LLC increased its position in Cirrus Logic by 15.7% during the third quarter. Guggenheim Capital LLC now owns 17,352 shares of the semiconductor company’s stock worth $1,170,000 after acquiring an additional 2,352 shares during the period. UBS Asset Management Americas Inc. increased its position in Cirrus Logic by 8.7% during the third quarter. UBS Asset Management Americas Inc. now owns 146,419 shares of the semiconductor company’s stock worth $9,876,000 after acquiring an additional 11,708 shares during the period. First Allied Advisory Services Inc. bought a new position in Cirrus Logic during the third quarter worth $203,000. Finally, Truist Financial Corp increased its position in Cirrus Logic by 309.5% during the third quarter. Truist Financial Corp now owns 31,565 shares of the semiconductor company’s stock worth $2,129,000 after acquiring an additional 23,857 shares during the period. Institutional investors own 84.24% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Susquehanna reaffirmed a “buy” rating and set a $115.00 target price on shares of Cirrus Logic in a research report on Tuesday, February 2nd. Colliers Securities reaffirmed a “buy” rating on shares of Cirrus Logic in a research report on Thursday, January 28th. Oppenheimer reiterated a “hold” rating on shares of Cirrus Logic in a research note on Monday, February 1st. Craig Hallum downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $80.00 price target on the stock. in a research note on Tuesday, February 2nd. Finally, KeyCorp lifted their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 2nd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $99.22.
Shares of NASDAQ:CRUS opened at $85.95 on Thursday. Cirrus Logic, Inc. has a 52 week low of $55.30 and a 52 week high of $103.25. The company’s fifty day moving average is $81.79 and its 200-day moving average is $80.00. The company has a market capitalization of $4.99 billion, a PE ratio of 33.19, a P/E/G ratio of 3.77 and a beta of 0.88.
Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Sunday, January 31st. The semiconductor company reported $2.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.86 by $0.27. Cirrus Logic had a net margin of 12.57% and a return on equity of 14.92%. The company had revenue of $485.80 million for the quarter, compared to the consensus estimate of $462.75 million. During the same quarter in the previous year, the company earned $1.41 EPS. On average, equities research analysts predict that Cirrus Logic, Inc. will post 3.53 earnings per share for the current fiscal year.
Cirrus Logic announced that its Board of Directors has authorized a stock buyback program on Monday, February 1st that permits the company to buyback $350.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 6.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
Cirrus Logic Company Profile
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.
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