Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Oak Associates Ltd. OH

Oak Associates Ltd. OH lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 37.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,814 shares of the semiconductor company’s stock after purchasing an additional 11,836 shares during the period. Oak Associates Ltd. OH owned about 0.08% of Cirrus Logic worth $4,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in CRUS. LSV Asset Management boosted its position in Cirrus Logic by 7.3% during the fourth quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company’s stock worth $224,728,000 after purchasing an additional 154,048 shares in the last quarter. Wellington Management Group LLP grew its stake in Cirrus Logic by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock valued at $163,639,000 after acquiring an additional 65,441 shares during the period. Pacer Advisors Inc. increased its holdings in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after acquiring an additional 387,346 shares in the last quarter. Geode Capital Management LLC raised its position in Cirrus Logic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company’s stock worth $116,684,000 after acquiring an additional 33,204 shares during the period. Finally, Allianz Asset Management GmbH raised its position in Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after acquiring an additional 604,431 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of research reports. Barclays boosted their target price 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 reiterated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Trading Down 6.0 %

CRUS opened at $84.85 on Friday. The firm’s 50-day moving average price is $100.91 and its 200 day moving average price is $105.54. The firm has a market capitalization of $4.51 billion, a PE ratio of 15.40 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates 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, analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction 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 represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is owned by corporate insiders.

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.