Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Moran Wealth Management LLC

Moran Wealth Management LLC raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,274 shares of the semiconductor company’s stock after purchasing an additional 284 shares during the period. Moran Wealth Management LLC owned about 0.11% of Cirrus Logic worth $5,803,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in CRUS. Allianz Asset Management GmbH raised 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 valued at $104,049,000 after purchasing an additional 604,431 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of 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 acquiring an additional 387,346 shares in the last quarter. FMR LLC raised its position in shares of Cirrus Logic by 6.3% during the 3rd 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. Allspring Global Investments Holdings LLC raised its position in shares of Cirrus Logic by 443.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after acquiring an additional 178,469 shares in the last quarter. Finally, Burney Co. raised its position in shares of Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after acquiring an additional 142,430 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

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

Cirrus Logic Price Performance

Shares of CRUS opened at $104.77 on Tuesday. The company has a market cap of $5.57 billion, a P/E ratio of 19.01 and a beta of 0.89. The stock has a fifty day moving average price of $103.73 and a 200 day moving average price of $112.00. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 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%. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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.