Royce & Associates LP Purchases 25,746 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Royce & Associates LP grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 647,332 shares of the semiconductor company’s stock after purchasing an additional 25,746 shares during the quarter. Cirrus Logic makes up about 0.6% of Royce & Associates LP’s portfolio, making the stock its 26th largest position. Royce & Associates LP’s holdings in Cirrus Logic were worth $64,461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of CRUS. Huntington National Bank boosted its stake in Cirrus Logic by 10,500.0% during the third 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. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $28,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic during the third quarter valued at about $35,000. Sound Income Strategies LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $46,000. Finally, R Squared Ltd bought a new stake in Cirrus Logic in the fourth quarter worth about $47,000. 87.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRUS. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research report on Wednesday, February 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Susquehanna boosted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Performance

Shares of CRUS opened at $99.82 on Friday. The firm has a 50 day moving average price of $103.70 and a 200-day moving average price of $110.99. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 18.12 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly 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 net margin of 16.55% and a return on equity of 16.60%. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction 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 transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

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.