Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,100 shares of the semiconductor company’s stock after purchasing an additional 4,000 shares during the period. Alberta Investment Management Corp’s holdings in Cirrus Logic were worth $2,798,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. Westside Investment Management Inc. bought a new position in Cirrus Logic during the third quarter worth $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the fourth quarter worth $46,000. Finally, R Squared Ltd bought a new stake in Cirrus Logic during the fourth quarter valued at $47,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s 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 of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS opened at $111.30 on Friday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The stock’s fifty day moving average is $102.96 and its 200-day moving average is $114.61. The firm has a market capitalization of $5.92 billion, a price-to-earnings ratio of 20.20 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last released its 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 net margin of 16.55% and a return on equity of 16.60%. Analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Loop Capital started coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target for the company. Barclays lifted their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 5th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Stifel Nicolaus lowered their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus 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.