Blueshift Asset Management LLC Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Blueshift Asset Management LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,743 shares of the semiconductor company’s stock, valued at approximately $373,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic in the 4th quarter valued at about $28,000. Sound Income Strategies LLC purchased a new position in shares of Cirrus Logic in the 4th quarter valued at about $46,000. R Squared Ltd purchased a new position in shares of Cirrus Logic in the 4th quarter valued at about $47,000. Finally, Quent Capital LLC increased its stake in shares of 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 purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.1 %

Cirrus Logic stock opened at $99.79 on Friday. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The stock’s fifty day simple moving average is $103.35 and its 200-day simple moving average is $109.70. 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 (NASDAQ:CRUS) last posted its earnings results 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 net margin of 16.55% and a return on equity of 16.60%. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on 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 owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CRUS shares. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a 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 report on Wednesday. One equities research 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, Cirrus Logic has a consensus rating of “Moderate Buy” and an average target price 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.