Jupiter Asset Management Ltd. Raises Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Jupiter Asset Management Ltd. lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 7,706.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 249,977 shares of the semiconductor company’s stock after purchasing an additional 246,775 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.47% of Cirrus Logic worth $24,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRUS. FMR LLC increased its stake in Cirrus Logic by 6.3% during the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Pacer Advisors Inc. grew 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 valued at $126,247,000 after buying an additional 387,346 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after buying an additional 50,582 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after acquiring an additional 604,431 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the topic of several research analyst reports. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays increased their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, February 5th. Finally, Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. One 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 company has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Trading Down 3.8 %

Cirrus Logic stock opened at $97.89 on Thursday. The firm has a market cap of $5.20 billion, a PE ratio of 17.77 and a beta of 0.89. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The stock’s 50 day simple moving average is $103.74 and its two-hundred day simple moving average is $111.60.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results 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 return on equity of 16.60% and a net margin of 16.55%. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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.