Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Alberta Investment Management Corp

Alberta Investment Management Corp boosted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,100 shares of the semiconductor company’s stock after purchasing an additional 4,000 shares during the quarter. Alberta Investment Management Corp owned approximately 0.05% of Cirrus Logic worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Atria Investments Inc increased its stake in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after acquiring an additional 101 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the period. Captrust Financial Advisors grew its holdings in Cirrus Logic by 5.3% in the third quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares during the period. Ritholtz Wealth Management increased its position in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 153 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its stake in Cirrus Logic by 9.1% during the third quarter. First Trust Direct Indexing L.P. now owns 1,886 shares of the semiconductor company’s stock worth $234,000 after purchasing an additional 158 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, Susquehanna raised their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $111.30 on Friday. The business’s 50-day simple moving average is $102.96 and its 200 day simple moving average is $114.61. The company has a market cap of $5.92 billion, a P/E ratio of 20.20 and a beta of 0.91. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by insiders.

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.