Meritage Portfolio Management Raises Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Meritage Portfolio Management raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,971 shares of the semiconductor company’s stock after buying an additional 433 shares during the period. Meritage Portfolio Management’s holdings in Cirrus Logic were worth $395,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank grew its holdings in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC boosted its position in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $31,000. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic during the 3rd quarter valued at about $35,000. Finally, Sound Income Strategies LLC bought a new position in shares of Cirrus Logic in the 4th quarter worth approximately $46,000. 87.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is owned by company insiders.

Cirrus Logic Stock Down 4.5 %

Shares of Cirrus Logic stock opened at $104.41 on Friday. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 17.70 and a beta of 0.91. The stock’s 50-day simple moving average is $102.49 and its 200-day simple moving average is $116.08. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

About Cirrus Logic

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.