ING Groep NV Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

ING Groep NV acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 26,600 shares of the semiconductor company’s stock, valued at approximately $2,649,000. ING Groep NV owned 0.05% of Cirrus Logic as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of 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 in the last quarter. FMR LLC raised its holdings in shares of Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after acquiring an additional 217,404 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Cirrus Logic by 443.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after acquiring an additional 178,469 shares in the last quarter. Burney Co. boosted its stake in Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after purchasing an additional 142,430 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Cirrus Logic during the 3rd quarter valued at about $16,340,000. Institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.02% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, February 5th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus reduced their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Susquehanna raised their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. Finally, Barclays upped their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $109.07 on Friday. The company has a market capitalization of $5.80 billion, a P/E ratio of 19.79 and a beta of 0.91. The company’s 50-day moving average is $103.00 and its 200 day moving average is $114.58. 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 announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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, research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current 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.