Earnest Partners LLC Has $135.84 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Earnest Partners LLC grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,364,140 shares of the semiconductor company’s stock after buying an additional 46,121 shares during the quarter. Earnest Partners LLC owned approximately 2.57% of Cirrus Logic worth $135,841,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC bought a new stake in Cirrus Logic during the 4th quarter worth $4,594,000. Pinebridge Investments L.P. boosted its stake in shares of Cirrus Logic by 4.9% during the fourth quarter. Pinebridge Investments L.P. now owns 48,479 shares of the semiconductor company’s stock valued at $4,828,000 after purchasing an additional 2,254 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in shares of Cirrus Logic during the fourth quarter worth about $670,000. Stifel Financial Corp increased its stake in shares of Cirrus Logic by 7.9% in the fourth quarter. Stifel Financial Corp now owns 36,030 shares of the semiconductor company’s stock valued at $3,588,000 after buying an additional 2,646 shares during the period. Finally, State of Tennessee Department of Treasury increased its stake in shares of Cirrus Logic by 2.9% in the fourth quarter. State of Tennessee Department of Treasury now owns 26,317 shares of the semiconductor company’s stock valued at $2,621,000 after buying an additional 750 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic 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 completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Barclays reduced their target price on shares of Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 17th. Finally, Benchmark restated a “buy” rating and issued a $125.00 price objective 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 issued a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and an average price target of $123.86.

Cirrus Logic Stock Up 1.1 %

Shares of NASDAQ CRUS opened at $93.41 on Friday. The company has a market capitalization of $4.96 billion, a PE ratio of 16.95 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The firm has a fifty day simple moving average of $96.80 and a 200 day simple moving average of $103.05.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate 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 expect that Cirrus Logic, Inc. will post 5.63 earnings per share 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.