Jacobs Levy Equity Management Inc. Has $38.79 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Jacobs Levy Equity Management Inc. grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 419,101 shares of the semiconductor company’s stock after buying an additional 47,299 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.78% of Cirrus Logic worth $38,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRUS. Vanguard Group Inc. increased its position in Cirrus Logic by 2.1% in the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the period. Mackenzie Financial Corp increased its position in Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after purchasing an additional 35,722 shares during the period. LSV Asset Management increased its position in Cirrus Logic by 8.3% in the first quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock worth $129,992,000 after purchasing an additional 107,888 shares during the period. Wellington Management Group LLP increased its position in Cirrus Logic by 2.9% in the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after purchasing an additional 38,659 shares during the period. Finally, Earnest Partners LLC lifted its holdings in shares of Cirrus Logic by 4.8% during the 1st quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock valued at $122,029,000 after purchasing an additional 60,261 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $1.76 during trading on Tuesday, hitting $129.20. The stock had a trading volume of 614,993 shares, compared to its average volume of 454,612. The company has a market capitalization of $6.91 billion, a PE ratio of 26.56 and a beta of 0.94. The company’s 50-day moving average price is $125.84 and its two-hundred day moving average price is $102.46. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $142.83.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.36 by $0.48. The firm had revenue of $371.83 million for the quarter, compared to analysts’ expectations of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on CRUS. KeyCorp lifted their price objective on Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Friday. Stifel Nicolaus lifted their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Susquehanna lifted their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, TD Cowen lifted their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $128.57.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the transaction, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The disclosure for this sale can be found here. Insiders have sold 18,706 shares of company stock valued at $2,187,098 in the last 90 days. 1.02% of the stock is currently owned by insiders.

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 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.