Arrowstreet Capital Limited Partnership Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Arrowstreet Capital Limited Partnership acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 16,977 shares of the semiconductor company’s stock, valued at approximately $1,691,000.

Other large investors have also made changes to their positions in the company. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the fourth quarter valued at about $28,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth about $46,000. R Squared Ltd purchased a new stake in shares of Cirrus Logic in the fourth quarter worth about $47,000. Finally, Quent Capital LLC grew its stake in shares of Cirrus Logic by 167.2% in the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 296 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

CRUS stock opened at $84.85 on Friday. The firm has a market cap of $4.51 billion, a PE ratio of 15.40 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The firm has a 50 day simple moving average of $100.91 and a 200 day simple moving average of $105.54.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays boosted 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred 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 in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

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 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.