Cardinal Capital Management Purchases 1,032 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Cardinal Capital Management increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,398 shares of the semiconductor company’s stock after acquiring an additional 1,032 shares during the quarter. Cardinal Capital Management’s holdings in Cirrus Logic were worth $2,230,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Huntington National Bank grew its position in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Nisa Investment Advisors LLC boosted 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 valued at $30,000 after buying an additional 120 shares during the period. V Square Quantitative Management LLC purchased a new position in Cirrus Logic during the third quarter worth about $31,000. Westside Investment Management Inc. bought a new position in Cirrus Logic in the 3rd quarter worth about $35,000. Finally, Sound Income Strategies LLC bought a new position in Cirrus Logic in the 4th quarter worth about $46,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $109.06 on Tuesday. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The stock has a market cap of $5.80 billion, a price-to-earnings ratio of 19.79 and a beta of 0.91. The stock’s 50 day simple moving average is $102.65 and its two-hundred day simple moving average is $114.68.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRUS shares. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, February 5th. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Loop Capital initiated coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Finally, Barclays raised their price objective 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 research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were 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 directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

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.