Oxford Asset Management LLP bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,959 shares of the semiconductor company’s stock, valued at approximately $738,000.
Several other institutional investors also recently bought and sold shares of CRUS. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Cirrus Logic by 83.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 513 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 233 shares in the last quarter. Carroll Financial Associates Inc. acquired a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $46,000. Valeo Financial Advisors LLC acquired a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $58,000. NEXT Financial Group Inc grew its position in shares of Cirrus Logic by 79.6% in the fourth quarter. NEXT Financial Group Inc now owns 738 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 327 shares during the last quarter. Finally, Anderson Fisher LLC acquired a new position in shares of Cirrus Logic in the fourth quarter valued at approximately $81,000. Institutional investors and hedge funds own 91.60% of the company’s stock.
In other news, VP Bradley J. Fluke sold 11,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $78.80, for a total transaction of $866,800.00. Following the completion of the sale, the vice president now directly owns 5,120 shares of the company’s stock, valued at $403,456. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason P. Rhode sold 85,091 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $79.24, for a total value of $6,742,610.84. Following the sale, the chief executive officer now directly owns 302,999 shares of the company’s stock, valued at $24,009,640.76. The disclosure for this sale can be found here. 2.79% of the stock is owned by corporate insiders.
CRUS has been the subject of several recent research reports. Benchmark boosted their price target on Cirrus Logic from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, January 30th. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, January 30th. Bank of America upped their target price on shares of Cirrus Logic from $64.00 to $76.00 and gave the company an “underperform” rating in a research report on Thursday, January 30th. Barclays reaffirmed a “hold” rating and issued a $65.00 target price on shares of Cirrus Logic in a research report on Sunday, January 19th. Finally, Craig Hallum upped their target price on shares of Cirrus Logic from $52.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $78.70.
CRUS traded up $5.55 during midday trading on Thursday, hitting $65.63. The company’s stock had a trading volume of 931,440 shares, compared to its average volume of 985,625. The company has a current ratio of 4.01, a quick ratio of 3.23 and a debt-to-equity ratio of 0.11. The firm has a market cap of $3.56 billion, a P/E ratio of 25.44, a PEG ratio of 1.34 and a beta of 1.10. The firm has a 50-day moving average price of $69.61 and a two-hundred day moving average price of $69.52. Cirrus Logic, Inc. has a 52-week low of $37.24 and a 52-week high of $91.63.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, January 29th. The semiconductor company reported $1.41 EPS for the quarter, topping the consensus estimate of $1.14 by $0.27. The firm had revenue of $374.67 million for the quarter, compared to analyst estimates of $345.33 million. Cirrus Logic had a return on equity of 15.06% and a net margin of 12.52%. Cirrus Logic’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 EPS. On average, equities analysts expect that Cirrus Logic, Inc. will post 3.05 EPS for the current year.
About Cirrus Logic
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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