Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Burney Co.

Burney Co. increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1,205.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,247 shares of the semiconductor company’s stock after acquiring an additional 142,430 shares during the period. Burney Co.’s holdings in Cirrus Logic were worth $15,360,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Cirrus Logic by 8,183.4% during the second quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after purchasing an additional 657,288 shares during the period. FMR LLC lifted its stake in Cirrus Logic by 6.3% in the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after acquiring an additional 217,404 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec purchased a new position in Cirrus Logic in the third quarter valued at approximately $16,340,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Cirrus Logic by 32.6% in the 2nd quarter. AQR Capital Management LLC now owns 462,827 shares of the semiconductor company’s stock valued at $59,084,000 after purchasing an additional 113,694 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $103.50 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $75.92 and a 1 year high of $147.46. The business has a 50 day moving average price of $103.31 and a 200 day moving average price of $119.96. The company has a market capitalization of $5.50 billion, a P/E ratio of 17.54 and a beta of 0.93.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.23. The business had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The business’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 earnings per share. As a group, research analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Loop Capital initiated 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. Stifel Nicolaus lowered their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays lowered their price target on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a research note on Tuesday, November 5th. Finally, Susquehanna boosted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.50.

About Cirrus Logic

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.