Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 9.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,495 shares of the semiconductor company’s stock after acquiring an additional 984 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cirrus Logic were worth $956,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after buying an additional 327,269 shares in the last quarter. Kettle Hill Capital Management LLC purchased a new position in Cirrus Logic in the 3rd quarter worth approximately $14,442,000. Grantham Mayo Van Otterloo & Co. LLC grew its stake in Cirrus Logic by 3,235.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 181,640 shares of the semiconductor company’s stock worth $13,434,000 after buying an additional 176,195 shares in the last quarter. Vanguard Group Inc. grew its stake in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after buying an additional 105,577 shares in the last quarter. Finally, Tudor Investment Corp Et Al purchased a new position in Cirrus Logic in the 3rd quarter worth approximately $7,744,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $88.53 on Monday. The company has a 50-day moving average of $90.01 and a 200 day moving average of $82.28. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 28.10 and a beta of 1.00. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued 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 company had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 4.79 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on CRUS. Stifel Nicolaus boosted their price target 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. TD Cowen upped their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Susquehanna upped their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Barclays upped their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Seven investment analysts have rated the stock with a buy rating, According to MarketBeat, Cirrus Logic currently has an average rating of “Buy” and an average target price of $96.43.

Insider Activity at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, 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 accessible through this hyperlink. In other news, 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 owns 6,000 shares of the company’s stock, valued at approximately $548,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by insiders.

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.