Bridgewater Associates LP Purchases 32,049 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Bridgewater Associates LP grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 85.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 69,765 shares of the semiconductor company’s stock after acquiring an additional 32,049 shares during the quarter. Bridgewater Associates LP owned 0.13% of Cirrus Logic worth $6,947,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. LSV Asset Management raised its holdings in shares of Cirrus Logic by 7.3% during the 4th quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company’s stock worth $224,728,000 after buying an additional 154,048 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Cirrus Logic by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock worth $163,639,000 after acquiring an additional 65,441 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after purchasing an additional 387,346 shares in the last quarter. Geode Capital Management LLC increased its position in Cirrus Logic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company’s stock worth $116,684,000 after purchasing an additional 33,204 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after buying an additional 604,431 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on CRUS shares. Barclays increased their price target 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. Benchmark restated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Price Performance

Shares of CRUS opened at $85.52 on Thursday. The business has a 50-day moving average of $99.39 and a 200-day moving average of $104.70. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 15.52 and a beta of 0.95. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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%. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by company insiders.

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.