AMP Capital Investors Ltd lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,995 shares of the semiconductor company’s stock after purchasing an additional 2,295 shares during the period. AMP Capital Investors Ltd’s holdings in Cirrus Logic were worth $934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in Cirrus Logic during the fourth quarter worth $100,000. DekaBank Deutsche Girozentrale raised its position in Cirrus Logic by 96.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock worth $157,000 after acquiring an additional 1,372 shares during the period. Delpha Capital Management LLC acquired a new position in Cirrus Logic during the fourth quarter worth $161,000. Capital Fund Management S.A. acquired a new position in Cirrus Logic during the fourth quarter worth $200,000. Finally, ETRADE Capital Management LLC raised its position in Cirrus Logic by 30.2% during the third quarter. ETRADE Capital Management LLC now owns 4,180 shares of the semiconductor company’s stock worth $223,000 after acquiring an additional 970 shares during the period. Hedge funds and other institutional investors own 91.49% of the company’s stock.
Cirrus Logic, Inc. (NASDAQ CRUS) opened at $40.70 on Monday. The firm has a market cap of $2,579.00, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.19 and a beta of 0.11. Cirrus Logic, Inc. has a 12 month low of $39.51 and a 12 month high of $71.97.
Cirrus Logic declared that its board has approved a stock buyback plan on Monday, February 5th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
In other Cirrus Logic news, VP Randolph K. Carlson sold 7,265 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total transaction of $305,347.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 7,888 shares of company stock valued at $335,162. 1.92% of the stock is currently owned by insiders.
A number of equities analysts have weighed in on the stock. BidaskClub upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating in a report on Friday, January 12th. ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Vetr lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating and set a $49.82 price objective for the company. in a report on Monday, December 18th. Finally, Stifel Nicolaus dropped their price objective on shares of Cirrus Logic from $75.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $60.22.
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Cirrus Logic Company Profile
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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