Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,689 shares of the semiconductor company’s stock after buying an additional 4,739 shares during the period. Intech Investment Management LLC’s holdings in Cirrus Logic were worth $1,363,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the 3rd quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the 4th quarter valued at about $28,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the 4th quarter valued at about $46,000. R Squared Ltd acquired a new position in Cirrus Logic during the 4th quarter valued at about $47,000. Finally, Quent Capital LLC increased its stake in Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 296 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS opened at $99.79 on Friday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company has a 50-day moving average of $103.35 and a two-hundred day moving average of $109.70. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results 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 return on equity of 16.60% and a net margin of 16.55%. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on CRUS. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Benchmark reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday. Finally, Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on 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 approximately $833,000. This trade 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 the SEC website. Corporate insiders own 1.02% of the company’s stock.

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.