Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 42.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 21,000 shares of the semiconductor company’s stock after purchasing an additional 6,300 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Cirrus Logic were worth $2,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of CRUS. Pacer Advisors Inc. lifted its holdings in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares during the period. FMR LLC lifted its holdings in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cirrus Logic by 443.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock worth $21,742,000 after purchasing an additional 178,469 shares during the period. Burney Co. lifted its holdings in shares of Cirrus Logic by 1,205.3% during the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after purchasing an additional 142,430 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of Cirrus Logic during the third quarter worth $16,340,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRUS. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Barclays raised their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 5th. Susquehanna raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on 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 transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Up 0.2 %

NASDAQ:CRUS opened at $111.40 on Thursday. The company has a market capitalization of $5.92 billion, a PE ratio of 20.22 and a beta of 0.91. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46. The stock has a fifty day simple moving average of $102.86 and a 200-day simple moving average of $114.64.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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%. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic 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.