Barclays PLC Has $9.90 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Barclays PLC raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,414 shares of the semiconductor company’s stock after acquiring an additional 932 shares during the period. Barclays PLC owned approximately 0.19% of Cirrus Logic worth $9,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Optimize Financial Inc acquired a new position in shares of Cirrus Logic during the 4th quarter worth $1,303,000. Sterling Capital Management LLC raised its stake in Cirrus Logic by 56.6% during the fourth quarter. Sterling Capital Management LLC now owns 3,212 shares of the semiconductor company’s stock worth $320,000 after acquiring an additional 1,161 shares in the last quarter. Oak Associates Ltd. OH lifted its holdings in shares of Cirrus Logic by 37.0% in the fourth quarter. Oak Associates Ltd. OH now owns 43,814 shares of the semiconductor company’s stock worth $4,363,000 after acquiring an additional 11,836 shares during the last quarter. Covestor Ltd boosted its stake in shares of Cirrus Logic by 21.5% in the 4th quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company’s stock valued at $106,000 after purchasing an additional 187 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its holdings in shares of Cirrus Logic by 3.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 60,441 shares of the semiconductor company’s stock valued at $6,019,000 after purchasing an additional 1,761 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRUS. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price target on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Barclays reduced their price objective on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $123.86.

Cirrus Logic Stock Up 1.1 %

Shares of Cirrus Logic stock opened at $86.74 on Wednesday. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The company’s fifty day moving average is $97.89 and its 200 day moving average is $103.62.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

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.