6,732 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 6,732 shares of the semiconductor company’s stock, valued at approximately $670,000.

Other large investors also recently bought and sold shares of the company. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic during the fourth quarter worth approximately $28,000. Headlands Technologies LLC purchased a new position in shares of Cirrus Logic during the fourth quarter worth approximately $39,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at $46,000. Finally, R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter worth $47,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $92.40 on Friday. The business’s fifty day moving average price is $97.15 and its 200 day moving average price is $103.35. The firm has a market capitalization of $4.91 billion, a PE ratio of 16.77 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 announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Equities research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on CRUS. Barclays reduced their target price on shares of Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating for the company in a report on Tuesday. Stifel Nicolaus decreased their price objective on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Benchmark reissued a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One equities research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.86.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction 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 completion of the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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.