EFG Asset Management North America Corp. Grows Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

EFG Asset Management North America Corp. grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 58.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,493 shares of the semiconductor company’s stock after buying an additional 6,459 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Cirrus Logic were worth $1,742,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings 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 Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after purchasing an additional 387,346 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 in the last quarter. Allianz Asset Management GmbH lifted its position in shares of 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 worth $104,049,000 after purchasing an additional 604,431 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Cirrus Logic by 8.4% during the fourth quarter. Sei Investments Co. now owns 830,180 shares of the semiconductor company’s stock valued at $82,672,000 after purchasing an additional 64,222 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of analyst reports. Benchmark restated a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays lifted their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One 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 stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $102.66 on Wednesday. The stock has a market cap of $5.46 billion, a PE ratio of 18.63 and a beta of 0.89. The stock has a 50-day moving average of $103.43 and a two-hundred day moving average of $108.84. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic Company 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.