Van ECK Associates Corp Increases Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 28.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,662 shares of the semiconductor company’s stock after buying an additional 3,267 shares during the quarter. Van ECK Associates Corp’s holdings in Cirrus Logic were worth $1,220,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. MQS Management LLC increased its holdings in shares of Cirrus Logic by 4.0% in the third quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock valued at $318,000 after purchasing an additional 164 shares during the period. Truvestments Capital LLC lifted its stake in Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock valued at $256,000 after acquiring an additional 171 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Cirrus Logic by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock valued at $1,994,000 after acquiring an additional 172 shares during the last quarter. Covestor Ltd increased its stake in shares of Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 174 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Buying and Selling

In other news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.89% of the stock is currently owned by insiders.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $103.78 on Friday. The firm has a fifty day moving average of $90.12 and a 200 day moving average of $83.45. The firm has a market cap of $5.59 billion, a PE ratio of 32.95 and a beta of 0.99. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $104.16.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, equities analysts predict that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Analyst Ratings Changes

CRUS has been the topic of several analyst reports. TD Cowen increased their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays lifted their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday. Stifel Nicolaus upped their price objective on Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Finally, Susquehanna boosted their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $107.86.

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 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 digital signal processing; boosted amplifiers; 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.