Xact Kapitalforvaltning AB Buys New Position in Cirrus Logic, Inc. (CRUS)

Xact Kapitalforvaltning AB bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, HoldingsChannel reports. The firm bought 5,495 shares of the semiconductor company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Cirrus Logic by 2.9% in the 4th quarter. BlackRock Inc. now owns 7,070,636 shares of the semiconductor company’s stock worth $366,682,000 after acquiring an additional 197,960 shares in the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 0.7% in the 4th quarter. LSV Asset Management now owns 3,198,586 shares of the semiconductor company’s stock worth $165,878,000 after acquiring an additional 21,327 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Cirrus Logic by 7.8% in the 4th quarter. Bank of New York Mellon Corp now owns 1,764,220 shares of the semiconductor company’s stock worth $91,491,000 after acquiring an additional 127,027 shares in the last quarter. Old Mutual Global Investors UK Ltd. grew its stake in shares of Cirrus Logic by 86.5% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 1,623,684 shares of the semiconductor company’s stock worth $84,204,000 after acquiring an additional 753,200 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Cirrus Logic by 10.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,304,324 shares of the semiconductor company’s stock worth $67,642,000 after acquiring an additional 125,285 shares in the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

CRUS has been the topic of a number of research analyst reports. Vetr downgraded shares of Cirrus Logic from a “hold” rating to a “sell” rating and set a $49.82 price target on the stock. in a report on Monday, December 18th. Zacks Investment Research downgraded shares of Cirrus Logic from a “hold” rating to a “sell” rating in a report on Friday, January 12th. BidaskClub downgraded shares of Cirrus Logic from a “hold” rating to a “sell” rating in a report on Thursday, January 11th. ValuEngine raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Friday, February 9th. Finally, Barclays cut their price target on shares of Cirrus Logic from $45.00 to $36.00 and set an “underweight” rating on the stock in a report on Tuesday, February 6th. Four research analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.22.



In other Cirrus Logic news, VP Randolph K. Carlson sold 7,265 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total transaction of $305,347.95. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 7,941 shares of company stock worth $335,140. Insiders own 1.92% of the company’s stock.

NASDAQ CRUS opened at $39.82 on Friday. The stock has a market cap of $2,446.57, a price-to-earnings ratio of 9.60, a price-to-earnings-growth ratio of 1.32 and a beta of 0.22. Cirrus Logic, Inc. has a 52 week low of $37.47 and a 52 week high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.19). The business had revenue of $482.70 million for the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a net margin of 11.89% and a return on equity of 22.60%. Cirrus Logic’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period last year, the company earned $1.87 earnings per share. equities research analysts anticipate that Cirrus Logic, Inc. will post 3.78 EPS for the current year.

Cirrus Logic announced that its board has approved a stock buyback plan on Monday, February 5th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

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Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUS).

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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