Inceptionr LLC Purchases 5,355 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Inceptionr LLC increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 40.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,566 shares of the semiconductor company’s stock after buying an additional 5,355 shares during the quarter. Inceptionr LLC’s holdings in Cirrus Logic were worth $1,849,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Huntington National Bank boosted its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $28,000. Nisa Investment Advisors LLC boosted its position in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC acquired a new position in Cirrus Logic during the fourth quarter valued at approximately $46,000. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, February 5th. Barclays raised their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Loop Capital initiated coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Trading Up 2.2 %

Shares of NASDAQ CRUS opened at $105.39 on Thursday. The firm has a market cap of $5.60 billion, a P/E ratio of 19.13 and a beta of 0.89. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The business’s 50 day moving average is $103.45 and its 200-day moving average is $112.99.

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

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is owned by corporate insiders.

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.