Xponance Inc. Boosts Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Xponance Inc. raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,256 shares of the semiconductor company’s stock after acquiring an additional 337 shares during the period. Xponance Inc.’s holdings in Cirrus Logic were worth $723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares during 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 worth $126,247,000 after purchasing an additional 387,346 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $141,414,000 after purchasing an additional 50,582 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings 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 purchasing an additional 604,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of 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 valued at $89,527,000 after purchasing an additional 129,457 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $102.58 on Tuesday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company has a fifty day moving average of $103.40 and a 200-day moving average of $109.05. The stock has a market capitalization of $5.45 billion, a PE ratio of 18.62 and a beta of 0.89.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRUS shares. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Benchmark reiterated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays raised their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.86.

Insider Activity at Cirrus Logic

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 transaction of $205,100.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is owned by corporate insiders.

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.