Quent Capital LLC Increases Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Quent Capital LLC raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 167.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 473 shares of the semiconductor company’s stock after purchasing an additional 296 shares during the quarter. Quent Capital LLC’s holdings in Cirrus Logic were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Empowered Funds LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at about $300,000. Meritage Portfolio Management raised its position in Cirrus Logic by 12.2% in the 4th quarter. Meritage Portfolio Management now owns 3,971 shares of the semiconductor company’s stock valued at $395,000 after purchasing an additional 433 shares in the last quarter. E. Ohman J or Asset Management AB raised its position in Cirrus Logic by 10.4% in the 4th quarter. E. Ohman J or Asset Management AB now owns 19,091 shares of the semiconductor company’s stock valued at $1,901,000 after purchasing an additional 1,800 shares in the last quarter. RHS Financial LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at about $225,000. Finally, Robeco Institutional Asset Management B.V. raised its position in Cirrus Logic by 34.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company’s stock valued at $13,202,000 after purchasing an additional 33,682 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insiders Place Their Bets

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 stock was 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 in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CRUS shares. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna raised their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Up 3.0 %

CRUS opened at $106.95 on Friday. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 19.41 and a beta of 0.91. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The business’s 50 day moving average is $102.49 and its two-hundred day moving average is $115.13.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 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%. Equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

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.