Cardinal Capital Management Has $2.23 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Cardinal Capital Management increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,398 shares of the semiconductor company’s stock after acquiring an additional 1,032 shares during the quarter. Cardinal Capital Management’s holdings in Cirrus Logic were worth $2,230,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after buying an additional 50,582 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after buying an additional 69,006 shares during the period. Sheaff Brock Investment Advisors LLC acquired a new position in Cirrus Logic in the 3rd quarter valued at about $1,752,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Cirrus Logic in the 3rd quarter valued at about $2,543,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $109.06 on Tuesday. The business has a fifty day moving average price of $102.65 and a two-hundred day moving average price of $114.68. The stock has a market capitalization of $5.80 billion, a PE ratio of 19.79 and a beta of 0.91. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly 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 net margin of 16.55% and a return on equity of 16.60%. On average, equities analysts expect that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Insider Activity

In other Cirrus Logic 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 value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CRUS shares. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, February 5th. Barclays increased their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Susquehanna lifted their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.86.

About Cirrus Logic

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.