Kendall Capital Management Purchases 215 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Kendall Capital Management raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,310 shares of the semiconductor company’s stock after purchasing an additional 215 shares during the quarter. Kendall Capital Management’s holdings in Cirrus Logic were worth $927,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Huntington National Bank grew its stake in shares of 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 purchasing an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $28,000. Nisa Investment Advisors LLC grew its stake in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares during the period. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic during the 3rd quarter valued at approximately $35,000. Finally, Sound Income Strategies LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $46,000. 87.96% of the stock is currently owned by institutional investors.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’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 sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price objective for the company. Susquehanna boosted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a research note on Wednesday, February 5th. Finally, Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

CRUS stock opened at $108.92 on Friday. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 19.77 and a beta of 0.89. The business has a 50 day simple moving average of $103.63 and a two-hundred day simple moving average of $112.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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.