Geode Capital Management LLC Has $116.68 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Geode Capital Management LLC increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,171,483 shares of the semiconductor company’s stock after acquiring an additional 33,204 shares during the period. Geode Capital Management LLC owned about 2.20% of Cirrus Logic worth $116,684,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the fourth quarter worth $28,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic in the third quarter valued at about $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the 4th quarter worth about $46,000. R Squared Ltd bought a new stake in Cirrus Logic during the 4th quarter worth about $47,000. Finally, Quent Capital LLC increased its position in Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 296 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Down 6.6 %

CRUS stock opened at $77.43 on Wednesday. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The business’s fifty day moving average is $101.58 and its 200-day moving average is $106.15. The company has a market cap of $4.12 billion, a P/E ratio of 14.05 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Research analysts anticipate 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 dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Barclays upped their target price 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. Benchmark reaffirmed a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

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.