Versor Investments LP Takes $777,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Versor Investments LP bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,800 shares of the semiconductor company’s stock, valued at approximately $777,000.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in shares of Cirrus Logic by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 479,812 shares of the semiconductor company’s stock valued at $47,780,000 after purchasing an additional 9,050 shares during the period. Allianz Asset Management GmbH boosted its position in shares of Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares during the period. ING Groep NV acquired a new stake in shares of Cirrus Logic in the 4th quarter valued at about $2,649,000. Hussman Strategic Advisors Inc. boosted its position in shares of Cirrus Logic by 42.9% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 21,000 shares of the semiconductor company’s stock valued at $2,091,000 after purchasing an additional 6,300 shares during the period. Finally, Ieq Capital LLC acquired a new stake in shares of Cirrus Logic in the 4th quarter valued at about $227,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $104.21 on Friday. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The company has a market capitalization of $5.54 billion, a P/E ratio of 18.91 and a beta of 0.91. The business has a 50 day moving average price of $103.45 and a 200 day moving average price of $113.87.

Cirrus Logic (NASDAQ:CRUS) last released 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%. On average, research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CRUS shares. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Stifel Nicolaus decreased their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Susquehanna increased their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research report on Wednesday, February 5th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $132.86.

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.