Allspring Global Investments Holdings LLC Boosts Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Allspring Global Investments Holdings LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,729 shares of the semiconductor company’s stock after purchasing an additional 703 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.10% of Cirrus Logic worth $4,470,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Covington Capital Management grew its position in shares of Cirrus Logic by 100.0% during the third quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after buying an additional 200 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at $62,000. Finally, Covestor Ltd raised its holdings in shares of Cirrus Logic by 66.9% in the 1st quarter. Covestor Ltd now owns 1,078 shares of the semiconductor company’s stock valued at $91,000 after purchasing an additional 432 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Susquehanna increased their price objective on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Barclays upped their price target on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, TD Cowen raised their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $96.43.

Cirrus Logic Trading Down 1.5 %

CRUS stock opened at $82.02 on Friday. The company has a market capitalization of $4.42 billion, a P/E ratio of 26.04 and a beta of 1.00. The business has a 50 day simple moving average of $90.47 and a 200-day simple moving average of $81.62. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Research analysts predict that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Insider Activity

In related news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,530 shares of company stock valued at $700,292. Insiders own 0.89% of the company’s stock.

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 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 digital signal processing; boosted amplifiers; 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.