Cirrus Logic, Inc. (NASDAQ:CRUS) Position Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 137.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,044,880 shares of the semiconductor company’s stock after purchasing an additional 604,431 shares during the quarter. Allianz Asset Management GmbH’s holdings in Cirrus Logic were worth $104,049,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Huntington National Bank lifted its position in Cirrus Logic by 10,500.0% in the 3rd 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. Nisa Investment Advisors LLC increased its stake in shares of Cirrus Logic by 98.4% in 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 period. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $35,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth approximately $46,000. Finally, R Squared Ltd bought a new position in Cirrus Logic in the 4th quarter worth approximately $47,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Down 2.0 %

NASDAQ:CRUS opened at $109.07 on Friday. The business’s 50-day moving average price is $103.00 and its 200 day moving average price is $114.59. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46. The firm has a market cap of $5.80 billion, a P/E ratio of 19.79 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insiders Place Their Bets

In related 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 in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, February 5th. Susquehanna upped 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. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Loop Capital initiated coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. One analyst has rated the stock with a hold rating and seven have assigned 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 $132.86.

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.