JPMorgan Chase & Co. grew its position in Cirrus Logic, Inc. (NASDAQ: CRUS – Get Rating) by 18.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 207,200 shares of the semiconductor company stock after purchasing an additional 32,519 shares during the period. JPMorgan Chase & Co. owned about 0.36% of Cirrus Logic worth $ 19,066,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CRUS. Meritage Portfolio Management grew its position in Cirrus Logic by 5.4% during the fourth quarter. Meritage Portfolio Management now owns 2,604 shares of the semiconductor company stock valued at $ 240,000 after buying an additional 134 shares during the period. State Board of Administration of Florida Retirement System grew its position in Cirrus Logic by 0.3% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 49,590 shares of the semiconductor company stock valued at $ 4,563,000 after buying an additional 137 shares during the period. JJJ Advisors Inc. grew its position in Cirrus Logic by 40.4% during the fourth quarter. JJJ Advisors Inc. now owns 873 shares of the semiconductor company stock valued at $ 80,000 after buying an additional 251 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Cirrus Logic by 8.1% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,582 shares of the semiconductor company stock valued at $ 330,000 after buying an additional 267 shares during the period. Finally, Profund Advisors LLC grew its position in Cirrus Logic by 5.4% during the fourth quarter. Profund Advisors LLC now owns 5,610 shares of the semiconductor company stock valued at $ 516,000 after buying an additional 288 shares during the period. Institutional investors own 86.74% of the company stock.
A number of equities analysts have weighed in on CRUS shares. Benchmark cut their target price on shares of Cirrus Logic from $ 100.00 to $ 95.00 in a research report on Wednesday, May 4th. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $ 112.00 to $ 120.00 in a research report on Wednesday, May 4th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 12th. KeyCorp cut their target price on shares of Cirrus Logic from $ 120.00 to $ 105.00 in a research report on Wednesday, May 4th. Finally, Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $ 88.00 target price for the company. in a research report on Tuesday, April 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $ 104.21.
In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $ 79.99, for a total transaction of $ 79,990.00. Following the transaction, the director now directly owns 17,575 shares of the company stock, valued at $ 1,405,824.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Justin E. Dougherty sold 4,039 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $ 80.94, for a total transaction of $ 326,916.66. Following the transaction, the vice president now directly owns 5,673 shares in the company, valued at $ 459,172.62. The disclosure for this sale can be found here. Company insiders own 2.04% of the company stock.
Shares of CRUS opened at $ 81.54 on Wednesday. The firm’s 50 day simple moving average is $ 79.41 and its 200 day simple moving average is $ 83.64. The company has a market capitalization of $ 4.58 billion, a P / E ratio of 14.77, a P / E / G ratio of 5.37 and a beta of 0.90. Cirrus Logic, Inc. has a 1-year low of $ 73.45 and a 1-year high of $ 95.84.
Cirrus Logic (NASDAQ: CRUS – Get Rating) last announced its earnings results on Tuesday, May 3rd. The semiconductor company reported $ 1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $ 1.18 by $ 0.60. The business had revenue of $ 498.97 million for the quarter, compared to the estimate consensus of $ 420.19 million. Cirrus Logic had a net margin of 18.32% and a return on equity of 23.52%. Cirrus Logic’s quarterly revenue was up 70.0% on a year-over-year basis. During the same period last year, the firm posted $ 0.47 earnings per share. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 4.71 EPS for the current year.
Cirrus Logic Company Profile: (Get Rating)
Cirrus Logic, Inc., a fabless semiconductor company, provides low-power, high-precision mixed-signal processing solutions in the United States and internationally. It offers portable products, including codecs-chips that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single IC; smart codecs, a codec with digital signal processor; boosted amplifiers; micro-electromechanical systems microphones; haptic drivers; digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that offer enhanced voice quality, voice capture, and audio playback features.
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