KLP Kapitalforvaltning AS Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

KLP Kapitalforvaltning AS bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,800 shares of the semiconductor company’s stock, valued at approximately $1,872,000.

Several other large investors also recently modified their holdings of the business. Arizona State Retirement System increased its position in Cirrus Logic by 0.7% during the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares during the period. Truvestments Capital LLC grew its position in shares of Cirrus Logic by 3.5% in the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock worth $396,000 after buying an additional 133 shares during the period. Captrust Financial Advisors increased its stake in shares of Cirrus Logic by 5.3% during the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares in the last quarter. Ritholtz Wealth Management raised its stake in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 153 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its holdings in Cirrus Logic by 40.0% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 200 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Cirrus Logic 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 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. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Down 0.0 %

Shares of CRUS stock opened at $103.26 on Friday. The company has a 50 day moving average price of $103.50 and a 200-day moving average price of $108.76. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The firm has a market capitalization of $5.49 billion, a PE ratio of 18.74 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 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%. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

CRUS has been the subject of several analyst reports. Benchmark restated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, 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 note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.