EFG Asset Management North America Corp. Acquires 6,459 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

EFG Asset Management North America Corp. boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 58.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,493 shares of the semiconductor company’s stock after purchasing an additional 6,459 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Cirrus Logic were worth $1,742,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic during the 4th quarter valued at approximately $28,000. Westside Investment Management Inc. purchased a new position in Cirrus Logic during the third quarter valued at $35,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic during the fourth quarter valued at $46,000. R Squared Ltd bought a new stake in Cirrus Logic in the 4th quarter valued at $47,000. Finally, Quent Capital LLC lifted its stake in Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

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

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $102.66 on Wednesday. The stock’s fifty day moving average is $103.43 and its 200 day moving average is $108.84. The firm has a market capitalization of $5.46 billion, a PE ratio of 18.63 and a beta of 0.89. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its 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%. Equities analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS 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.