Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Holdings Increased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 179.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,706 shares of the semiconductor company’s stock after buying an additional 29,990 shares during the quarter. Skandinaviska Enskilda Banken AB publ owned approximately 0.09% of Cirrus Logic worth $4,679,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cirrus Logic by 4.7% during the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Cirrus Logic during the third quarter valued at approximately $2,543,000. Finally, Hancock Whitney Corp bought a new position in shares of Cirrus Logic during the third quarter valued at approximately $898,000. 87.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRUS shares. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

CRUS opened at $99.82 on Friday. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.12 and a beta of 0.89. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The business has a 50 day moving average price of $103.70 and a two-hundred day moving average price of $110.99.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Equities analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic Company Profile

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.