New Age Alpha Advisors LLC Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

New Age Alpha Advisors LLC bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,134 shares of the semiconductor company’s stock, valued at approximately $1,407,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic during the 4th quarter worth about $28,000. Westside Investment Management Inc. purchased a new position in Cirrus Logic during the third quarter worth approximately $35,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $46,000. R Squared Ltd purchased a new stake in shares of Cirrus Logic during the 4th quarter valued at $47,000. Finally, Quent Capital LLC increased its holdings in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock worth $47,000 after buying an additional 296 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Stock Performance

CRUS stock opened at $99.51 on Monday. The stock has a 50-day simple moving average of $103.47 and a 200-day simple moving average of $108.16. The firm has a market cap of $5.29 billion, a P/E ratio of 18.06 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.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.