Transce3nd LLC Takes $63,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Transce3nd LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 637 shares of the semiconductor company’s stock, valued at approximately $63,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allianz Asset Management GmbH raised its holdings in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after purchasing an additional 604,431 shares during the last quarter. Norges Bank bought a new position in Cirrus Logic during the fourth quarter worth $58,723,000. Pacer Advisors Inc. lifted its holdings in Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after buying an additional 387,346 shares during the period. Jupiter Asset Management Ltd. boosted its position in Cirrus Logic by 7,706.9% during the fourth quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock valued at $24,893,000 after acquiring an additional 246,775 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cirrus Logic by 443.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock worth $21,742,000 after acquiring an additional 178,469 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’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 directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus cut their target price on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Benchmark reiterated a “buy” rating and issued a $125.00 price objective 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 given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $128.86.

Cirrus Logic Trading Up 0.2 %

CRUS opened at $85.78 on Tuesday. The company has a market cap of $4.56 billion, a price-to-earnings ratio of 15.57 and a beta of 0.95. The company’s fifty day moving average price is $98.30 and its two-hundred day moving average price is $103.74. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data 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 16.60% and a net margin of 16.55%. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share 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.