Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 830,180 shares of the semiconductor company’s stock after acquiring an additional 64,222 shares during the quarter. Sei Investments Co.’s holdings in Cirrus Logic were worth $82,672,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter valued at $28,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic in the 4th quarter valued at $46,000. R Squared Ltd purchased a new position in Cirrus Logic in the 4th quarter valued at $47,000. Finally, Quent Capital LLC grew its position in Cirrus Logic by 167.2% in the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 296 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of analyst reports. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays lifted 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 report on Wednesday, February 5th. Finally, Benchmark reiterated a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $99.79 on Friday. The firm has a market capitalization of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company’s fifty day moving average is $103.35 and its two-hundred day moving average is $109.50.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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 return on equity of 16.60% and a net margin of 16.55%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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.