Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by FORA Capital LLC

FORA Capital LLC lifted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 45.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,191 shares of the semiconductor company’s stock after buying an additional 5,372 shares during the period. FORA Capital LLC’s holdings in Cirrus Logic were worth $1,712,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG increased its holdings in shares of Cirrus Logic by 139.4% in the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company’s stock valued at $58,427,000 after purchasing an additional 341,615 shares during the period. EP Wealth Advisors LLC increased its stake in Cirrus Logic by 70.5% in the 4th quarter. EP Wealth Advisors LLC now owns 3,332 shares of the semiconductor company’s stock valued at $332,000 after buying an additional 1,378 shares during the period. CoreCap Advisors LLC increased its stake in Cirrus Logic by 30.1% in the 4th quarter. CoreCap Advisors LLC now owns 7,658 shares of the semiconductor company’s stock valued at $763,000 after buying an additional 1,772 shares during the period. Crestline Management LP purchased a new position in Cirrus Logic during the 4th quarter worth $279,000. Finally, Cetera Investment Advisers lifted its stake in shares of Cirrus Logic by 30.3% in the 4th quarter. Cetera Investment Advisers now owns 2,767 shares of the semiconductor company’s stock worth $276,000 after acquiring an additional 643 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.9 %

Shares of Cirrus Logic stock opened at $97.50 on Friday. The company has a 50-day moving average of $94.84 and a two-hundred day moving average of $101.55. The stock has a market cap of $5.18 billion, a PE ratio of 17.70 and a beta of 0.92. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.52. The firm had revenue of $424.46 million during the quarter, compared to analysts’ expectations of $380.26 million. Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Cirrus Logic’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic announced that its Board of Directors has approved a share buyback plan on Tuesday, May 6th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CRUS has been the subject of several analyst reports. Benchmark reissued a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays raised their price target on Cirrus Logic from $80.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday. Finally, Stifel Nicolaus set a $120.00 price target on Cirrus Logic in a research note on Wednesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $128.33.

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.