Arbejdsmarkedets Tillaegspension Purchases Shares of 185,552 Cirrus Logic, Inc. $CRUS

Arbejdsmarkedets Tillaegspension purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 185,552 shares of the semiconductor company’s stock, valued at approximately $21,988,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRUS. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Cirrus Logic by 546.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock valued at $46,005,000 after acquiring an additional 328,159 shares during the period. Vanguard Group Inc. increased its holdings in shares of Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after purchasing an additional 268,560 shares during the period. Voloridge Investment Management LLC acquired a new stake in Cirrus Logic in the third quarter valued at approximately $19,508,000. Barclays PLC boosted its position in Cirrus Logic by 234.4% during the third quarter. Barclays PLC now owns 183,122 shares of the semiconductor company’s stock worth $22,943,000 after purchasing an additional 128,362 shares during the period. Finally, UBS Group AG boosted its position in Cirrus Logic by 50.1% during the third quarter. UBS Group AG now owns 342,189 shares of the semiconductor company’s stock worth $42,873,000 after purchasing an additional 114,172 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $159.71 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $179.00. The company has a market cap of $8.15 billion, a price-to-earnings ratio of 20.37 and a beta of 1.16. The stock has a fifty day moving average price of $153.11 and a 200-day moving average price of $136.32.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. During the same period in the previous year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Research analysts predict that Cirrus Logic, Inc. will post 7.97 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the completion of the transaction, the executive vice president directly owned 30,393 shares in the company, valued at $4,866,223.23. The trade was a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the completion of the transaction, the chief executive officer owned 70,016 shares of the company’s stock, valued at $11,931,426.56. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.16% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a research note on Thursday, May 7th. Barclays raised their price target on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Monday, February 2nd. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.71.

Cirrus Logic 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.