Assenagon Asset Management S.A. Has $17.08 Million Stock Position in Cirrus Logic, Inc. $CRUS

Assenagon Asset Management S.A. increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 223.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 144,139 shares of the semiconductor company’s stock after acquiring an additional 99,526 shares during the period. Assenagon Asset Management S.A.’s holdings in Cirrus Logic were worth $17,080,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CRUS. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter worth approximately $46,000. Geneos Wealth Management Inc. boosted its holdings in shares of Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 232 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Cirrus Logic in the third quarter valued at $48,000. Finally, SJS Investment Consulting Inc. grew its stake in shares of Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 385 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the transaction, the executive vice president directly owned 5,876 shares of the company’s stock, valued at $841,208.16. This represents a 33.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Forsyth sold 21,806 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at $6,855,213.45. This trade represents a 30.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is owned by insiders.

Cirrus Logic Trading Up 3.8%

CRUS opened at $148.69 on Friday. The stock’s fifty day simple moving average is $136.62 and its 200 day simple moving average is $127.40. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $154.90. The stock has a market cap of $7.58 billion, a PE ratio of 19.59 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. During the same period in the previous year, the business posted $2.51 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Benchmark upped their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research report on Monday, February 2nd. Barclays boosted their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $146.86.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.