NewEdge Advisors LLC Grows Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

NewEdge Advisors LLC grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 107.2% during the fourth quarter, HoldingsChannel reports. The firm owned 3,479 shares of the semiconductor company’s stock after acquiring an additional 1,800 shares during the period. NewEdge Advisors LLC’s holdings in Cirrus Logic were worth $346,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the third quarter valued at approximately $35,000. Headlands Technologies LLC acquired a new stake in Cirrus Logic during the fourth quarter worth $39,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the fourth quarter valued at $46,000. Finally, R Squared Ltd purchased a new position in shares of Cirrus Logic during the 4th quarter worth $47,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $93.55 on Wednesday. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 16.98 and a beta of 0.95. The business has a 50-day moving average of $96.09 and a 200 day moving average of $102.69. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted 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 net margin of 16.55% and a return on equity of 16.60%. Equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CRUS has been the subject of a number of research analyst reports. Barclays lowered their price target on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus lowered their price target on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Benchmark reiterated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

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.