LSV Asset Management Purchases 154,048 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

LSV Asset Management grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,256,760 shares of the semiconductor company’s stock after acquiring an additional 154,048 shares during the period. LSV Asset Management owned 4.25% of Cirrus Logic worth $224,728,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the fourth quarter valued at approximately $28,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the third quarter valued at about $35,000. Headlands Technologies LLC acquired a new stake in shares of Cirrus Logic in the 4th quarter worth about $39,000. Sound Income Strategies LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $46,000. Finally, R Squared Ltd bought a new position in Cirrus Logic in the 4th quarter worth approximately $47,000. Institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In related 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 value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CRUS. Barclays lifted their price objective 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. Benchmark reaffirmed a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Performance

CRUS stock opened at $90.23 on Thursday. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 16.38 and a beta of 0.95. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company’s 50 day moving average price is $101.20 and its 200 day moving average price is $105.80.

Cirrus Logic (NASDAQ:CRUS) last released its 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 net margin of 16.55% and a return on equity of 16.60%. Equities analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal 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.