AXQ Capital LP Buys Shares of 7,566 Cirrus Logic, Inc. (NASDAQ:CRUS)

AXQ Capital LP purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,566 shares of the semiconductor company’s stock, valued at approximately $753,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after acquiring an additional 129,457 shares during the period. Geode Capital Management LLC raised its holdings in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after acquiring an additional 50,582 shares during the period. JPMorgan Chase & Co. raised its holdings in Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after acquiring an additional 69,006 shares during the period. Y Intercept Hong Kong Ltd bought a new position in Cirrus Logic in the 3rd quarter worth $2,543,000. Finally, Hancock Whitney Corp bought a new position in Cirrus Logic in the 3rd quarter worth $898,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.1 %

Shares of CRUS stock opened at $99.79 on Friday. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89. The firm’s 50 day moving average is $103.35 and its 200-day moving average is $109.70. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year 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 the consensus estimate 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 research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Benchmark restated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’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 value of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

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.