Los Angeles Capital Management LLC Purchases 7,070 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Los Angeles Capital Management LLC raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,608 shares of the semiconductor company’s stock after acquiring an additional 7,070 shares during the period. Los Angeles Capital Management LLC owned about 0.25% of Cirrus Logic worth $11,281,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MQS Management LLC grew its holdings in shares of Cirrus Logic by 4.0% during the 3rd quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 164 shares during the last quarter. Truvestments Capital LLC lifted its stake in shares of Cirrus Logic by 5.2% in the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 171 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Cirrus Logic by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock valued at $1,994,000 after acquiring an additional 172 shares during the period. Covestor Ltd increased its stake in Cirrus Logic by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 174 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CRUS has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Susquehanna increased their price objective on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Barclays lifted their price objective on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, TD Cowen raised their price target on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $96.43.

Insiders Place Their Bets

In related news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,530 shares of company stock valued at $700,292. Insiders own 0.89% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $88.48 on Friday. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 28.09 and a beta of 0.99. The firm has a 50 day moving average price of $89.67 and a 200-day moving average price of $82.76. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal 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 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 digital signal processing; boosted amplifiers; 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.