Massachusetts Financial Services Co. MA Increases Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Massachusetts Financial Services Co. MA raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 0.6% in the 3rd quarter, Holdings Channel reports. The firm owned 26,963 shares of the semiconductor company’s stock after acquiring an additional 172 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Cirrus Logic were worth $1,994,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Covington Capital Management lifted its holdings in shares of Cirrus Logic by 100.0% in the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 200 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 71.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 300 shares during the period. NewEdge Advisors LLC boosted its stake in Cirrus Logic by 1,872.0% during the first quarter. NewEdge Advisors LLC now owns 986 shares of the semiconductor company’s stock worth $108,000 after buying an additional 936 shares during the period. Covestor Ltd increased its position in Cirrus Logic by 66.9% during the first quarter. Covestor Ltd now owns 1,078 shares of the semiconductor company’s stock valued at $91,000 after acquiring an additional 432 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Cirrus Logic in the first quarter valued at $135,000. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on CRUS. KeyCorp decreased their price objective on shares of Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Friday, November 3rd. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Friday. Loop Capital upgraded Cirrus Logic from a “hold” rating to a “buy” rating and raised their price objective for the stock from $83.00 to $100.00 in a report on Wednesday, November 1st. Susquehanna increased their price target on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. Finally, Barclays lifted their price objective on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $96.43.

View Our Latest Stock Report on Cirrus Logic

Insider Transactions at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $92.14 on Tuesday. The company has a market cap of $4.97 billion, a P/E ratio of 29.25, a PEG ratio of 18.56 and a beta of 0.98. The stock’s 50-day moving average is $81.59 and its 200 day moving average is $77.23. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $111.15.

Cirrus Logic Profile

(Free Report)

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 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 digital signal processing; boosted amplifiers; 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.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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