Mitsubishi UFJ Trust & Banking Corp Acquires 7,165 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Mitsubishi UFJ Trust & Banking Corp increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 44.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,199 shares of the semiconductor company’s stock after acquiring an additional 7,165 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cirrus Logic were worth $2,310,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the 3rd quarter worth approximately $35,000. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic in the fourth quarter worth $28,000. Sound Income Strategies LLC bought a new stake in Cirrus Logic in the fourth quarter worth $46,000. R Squared Ltd purchased a new position in Cirrus Logic during the fourth quarter worth $47,000. Finally, Quent Capital LLC increased its position in Cirrus Logic by 167.2% during the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $99.65 on Tuesday. The company has a market capitalization of $5.30 billion, a PE ratio of 18.09 and a beta of 0.89. The company has a 50 day moving average price of $103.45 and a 200-day moving average price of $107.92. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued 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 net margin of 16.55% and a return on equity of 16.60%. On average, analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic 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.