Edgestream Partners L.P. Takes $724,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Edgestream Partners L.P. bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,267 shares of the semiconductor company’s stock, valued at approximately $724,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after buying an additional 101 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after buying an additional 101 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after acquiring an additional 142 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after acquiring an additional 153 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in Cirrus Logic by 40.0% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock valued at $70,000 after acquiring an additional 200 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred 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 sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CRUS shares. Benchmark upgraded 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 raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays raised 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $97.89 on Thursday. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The stock has a market capitalization of $5.20 billion, a PE ratio of 17.77 and a beta of 0.89. The business’s 50-day simple moving average is $103.74 and its 200-day simple moving average is $111.60.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate 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, research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic Company 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.