denkapparat Operations GmbH Takes $228,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

denkapparat Operations GmbH purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, HoldingsChannel reports. The fund purchased 2,288 shares of the semiconductor company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Allianz Asset Management GmbH grew its holdings in shares of 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 acquiring an additional 604,431 shares during the period. Norges Bank bought a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $58,723,000. Pacer Advisors Inc. grew its stake 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 worth $126,247,000 after purchasing an additional 387,346 shares during the period. Jupiter Asset Management Ltd. raised its holdings in Cirrus Logic by 7,706.9% in the fourth quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock worth $24,893,000 after purchasing an additional 246,775 shares in the last quarter. Finally, FMR LLC lifted its position in Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock valued at $456,862,000 after buying an additional 217,404 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Down 3.6 %

Shares of NASDAQ CRUS opened at $99.51 on Friday. The firm has a market cap of $5.29 billion, a P/E ratio of 18.06 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The company has a 50 day moving average of $103.47 and a 200 day moving average of $108.52.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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 shares were sold at an average price of $100.00, for a total transaction 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 approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CRUS shares. Benchmark reiterated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.