LSV Asset Management Has $224.73 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

LSV Asset Management lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,256,760 shares of the semiconductor company’s stock after purchasing an additional 154,048 shares during the period. LSV Asset Management’s holdings in Cirrus Logic were worth $224,728,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CRUS. Captrust Financial Advisors raised its position in shares of Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after acquiring an additional 142 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in Cirrus Logic by 16.6% during the third quarter. Kovitz Investment Group Partners LLC now owns 3,752 shares of the semiconductor company’s stock valued at $425,000 after buying an additional 535 shares during the period. EP Wealth Advisors LLC purchased a new stake in Cirrus Logic during the third quarter valued at about $243,000. National Bank of Canada FI purchased a new position in Cirrus Logic in the 3rd quarter worth $186,000. Finally, MML Investors Services LLC increased its position in shares of Cirrus Logic by 5.4% in the third quarter. MML Investors Services LLC now owns 4,119 shares of the semiconductor company’s stock valued at $512,000 after acquiring an additional 212 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CRUS. Barclays boosted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Benchmark restated a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One investment 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 has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Up 16.5 %

Shares of Cirrus Logic stock opened at $90.23 on Thursday. The firm has a market capitalization of $4.80 billion, a P/E ratio of 16.38 and a beta of 0.95. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $147.46. The firm’s 50 day moving average is $101.20 and its two-hundred day moving average is $105.80.

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

Insider Transactions at Cirrus Logic

In other Cirrus Logic 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 sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.02% of the company’s stock.

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.