Cirrus Logic, Inc. $CRUS Holdings Increased by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 376,008 shares of the semiconductor company’s stock after acquiring an additional 5,660 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Cirrus Logic were worth $47,110,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Hantz Financial Services Inc. lifted its position in Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 249 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in Cirrus Logic during the 2nd quarter valued at $39,000. Abich Financial Wealth Management LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at $46,000. Geneos Wealth Management Inc. increased its position in shares of Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 232 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Cirrus Logic in the 3rd quarter worth $48,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRUS shares. Stifel Nicolaus raised their target price on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Wall Street Zen cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, February 2nd. Barclays raised their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Benchmark boosted their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.86.

Cirrus Logic Stock Down 2.9%

Shares of NASDAQ CRUS opened at $130.37 on Friday. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $146.88. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 17.18 and a beta of 1.12. The business has a fifty day simple moving average of $132.14 and a 200-day simple moving average of $125.32.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. The firm had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the business posted $2.51 EPS. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other news, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction that occurred on 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 trade represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $141.63, for a total transaction of $458,739.57. Following the sale, the executive vice president owned 30,393 shares in the company, valued at $4,304,560.59. This represents a 9.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,045 shares of company stock valued at $3,835,300 over the last ninety days. Corporate insiders own 1.16% of the company’s stock.

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.