Versor Investments LP Buys New Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Versor Investments LP bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the fourth quarter, Holdings Channel reports. The fund bought 7,800 shares of the semiconductor company’s stock, valued at approximately $777,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRUS. Huntington National Bank boosted its holdings in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of 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 in the last quarter. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the third quarter worth about $35,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic during the fourth quarter worth about $46,000. Finally, R Squared Ltd acquired a new position in shares of Cirrus Logic during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CRUS. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, February 5th. Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Loop Capital began 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Price Performance

CRUS stock opened at $104.21 on Friday. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The firm has a fifty day moving average price of $103.45 and a two-hundred day moving average price of $113.87. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of 18.91 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 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%. As a group, analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction dated 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 owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.

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.