Grantham Mayo Van Otterloo & Co. LLC Raises Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Grantham Mayo Van Otterloo & Co. LLC lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 44.6% during the fourth quarter, Holdings Channel reports. The fund owned 411,508 shares of the semiconductor company’s stock after acquiring an additional 126,886 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Cirrus Logic were worth $40,978,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wellington Management Group LLP grew its stake in Cirrus Logic by 4.1% during the 4th quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock worth $163,639,000 after purchasing an additional 65,441 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after buying an additional 387,346 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Cirrus Logic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company’s stock worth $116,684,000 after buying an additional 33,204 shares during the period. Allianz Asset Management GmbH raised its holdings in Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after acquiring an additional 604,431 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in Cirrus Logic by 8.4% in the fourth quarter. Sei Investments Co. now owns 830,180 shares of the semiconductor company’s stock worth $82,672,000 after acquiring an additional 64,222 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

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 value of $205,100.00. Following 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Trading Down 6.3 %

Shares of Cirrus Logic stock opened at $83.23 on Friday. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46. The stock has a market cap of $4.42 billion, a price-to-earnings ratio of 15.11 and a beta of 0.95. The company has a fifty day simple moving average of $102.80 and a 200-day simple moving average of $107.20.

Cirrus Logic (NASDAQ:CRUS) last announced its 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 return on equity of 16.60% and a net margin of 16.55%. On average, analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CRUS shares. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the company 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.