Van ECK Associates Corp Buys 12,178 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 51.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,654 shares of the semiconductor company’s stock after purchasing an additional 12,178 shares during the quarter. Van ECK Associates Corp owned approximately 0.07% of Cirrus Logic worth $4,247,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRUS. Pacer Advisors Inc. grew its position in shares of Cirrus Logic by 8,183.4% during the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock worth $84,935,000 after buying an additional 657,288 shares in the last quarter. LSV Asset Management increased its position in Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after purchasing an additional 486,086 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Cirrus Logic by 68.6% in the 1st quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock valued at $42,619,000 after purchasing an additional 187,438 shares in the last quarter. DNB Asset Management AS purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth approximately $23,250,000. Finally, Vanguard Group Inc. boosted its stake in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of recent research reports. Susquehanna reduced their price objective on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research note on Tuesday. Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research note on Tuesday. KeyCorp lifted their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus decreased their price target 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. Finally, StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.00.

Cirrus Logic Trading Up 0.2 %

NASDAQ CRUS opened at $103.71 on Friday. Cirrus Logic, Inc. has a 12-month low of $69.23 and a 12-month high of $147.46. The company has a fifty day simple moving average of $122.47 and a two-hundred day simple moving average of $122.12. The stock has a market cap of $5.54 billion, a P/E ratio of 17.58 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a return on equity of 18.42% and a net margin of 17.19%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.43 EPS. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.37 earnings per share for the current year.

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.