Cirrus Logic, Inc. $CRUS Stock Position Lifted by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 376,008 shares of the semiconductor company’s stock after acquiring an additional 5,660 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned approximately 0.74% of Cirrus Logic worth $47,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First Trust Advisors LP lifted its stake in Cirrus Logic by 8.2% during the third quarter. First Trust Advisors LP now owns 308,735 shares of the semiconductor company’s stock worth $38,681,000 after purchasing an additional 23,440 shares during the last quarter. Neo Ivy Capital Management lifted its position in shares of Cirrus Logic by 426.8% in the 3rd quarter. Neo Ivy Capital Management now owns 9,192 shares of the semiconductor company’s stock worth $1,152,000 after buying an additional 7,447 shares during the last quarter. Barclays PLC lifted its position in shares of Cirrus Logic by 234.4% in the 3rd quarter. Barclays PLC now owns 183,122 shares of the semiconductor company’s stock worth $22,943,000 after buying an additional 128,362 shares during the last quarter. Cresset Asset Management LLC boosted its holdings in shares of Cirrus Logic by 34.0% in the 3rd quarter. Cresset Asset Management LLC now owns 27,800 shares of the semiconductor company’s stock valued at $3,483,000 after buying an additional 7,053 shares during the period. Finally, Picton Mahoney Asset Management grew its position in shares of Cirrus Logic by 220.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 7,423 shares of the semiconductor company’s stock valued at $930,000 after buying an additional 5,105 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRUS. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Wall Street Zen lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Benchmark increased their price target on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.86.

Cirrus Logic Stock Down 2.9%

Cirrus Logic stock opened at $130.37 on Friday. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $146.88. The firm has a market capitalization of $6.65 billion, a price-to-earnings ratio of 17.18 and a beta of 1.12. The firm has a 50-day moving average price of $132.14 and a two-hundred day moving average price of $125.32.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. Cirrus Logic’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 earnings per share. Research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction on Friday, February 13th. The stock was sold at an average price of $141.63, for a total transaction of $458,739.57. Following the sale, the executive vice president owned 30,393 shares of the company’s stock, valued at $4,304,560.59. The trade was a 9.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares in the company, valued at $841,208.16. The trade was a 33.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,045 shares of company stock worth $3,835,300 in the last three months. 1.16% of the stock is owned by company insiders.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.