Wellington Management Group LLP Has $163.64 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Wellington Management Group LLP grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,643,287 shares of the semiconductor company’s stock after purchasing an additional 65,441 shares during the period. Wellington Management Group LLP’s holdings in Cirrus Logic were worth $163,639,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Pacer Advisors Inc. raised its position in Cirrus Logic by 44.0% during the 4th 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 last quarter. Geode Capital Management LLC increased its stake in shares of Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after buying an additional 50,582 shares during the period. Allianz Asset Management GmbH raised its position in shares of Cirrus Logic by 137.2% during the fourth 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 last quarter. Sei Investments Co. lifted its stake in shares of 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 period. Finally, Royce & Associates LP boosted its holdings in Cirrus Logic by 4.1% in the fourth quarter. Royce & Associates LP now owns 647,332 shares of the semiconductor company’s stock valued at $64,461,000 after acquiring an additional 25,746 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the topic of a number of recent analyst reports. Benchmark restated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays boosted their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Price Performance

CRUS stock opened at $98.58 on Thursday. The company’s 50-day moving average is $103.40 and its 200-day moving average is $107.62. The stock has a market capitalization of $5.24 billion, a PE ratio of 17.89 and a beta of 0.89. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46.

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 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%. On average, 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 Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Company 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.