Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 7,706.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 249,977 shares of the semiconductor company’s stock after acquiring an additional 246,775 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Cirrus Logic were worth $24,893,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRUS. FMR LLC lifted its position in shares of Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after acquiring an additional 217,404 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares in the last quarter. Geode Capital Management LLC raised its stake in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $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 is available at the SEC website. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $97.89 on Thursday. The company has a market capitalization of $5.20 billion, a PE ratio of 17.77 and a beta of 0.89. The firm’s 50-day moving average is $103.74 and its two-hundred day moving average is $111.60. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, February 5th. Barclays increased their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Finally, Susquehanna boosted their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.