Kendall Capital Management Grows Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Kendall Capital Management boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,310 shares of the semiconductor company’s stock after buying an additional 215 shares during the period. Kendall Capital Management’s holdings in Cirrus Logic were worth $927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Huntington National Bank raised its holdings in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic in the fourth quarter worth $28,000. Nisa Investment Advisors LLC increased its stake in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the period. Westside Investment Management Inc. purchased a new stake in Cirrus Logic in the third quarter worth $35,000. Finally, Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the fourth quarter worth $46,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 5.8 %

CRUS opened at $108.92 on Friday. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46. The business’s fifty day simple moving average is $103.63 and its 200-day simple moving average is $112.46. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 19.77 and a beta of 0.89.

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

Insider Activity at Cirrus Logic

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

Analysts Set New Price Targets

A number of research firms have weighed in on CRUS. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Susquehanna increased their target price on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic 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.