Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 9.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 11,495 shares of the semiconductor company’s stock after acquiring an additional 984 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cirrus Logic were worth $956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Mackenzie Financial Corp grew its stake in shares of Cirrus Logic by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after purchasing an additional 35,722 shares during the period. Vontobel Holding Ltd. acquired a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $213,000. Louisiana State Employees Retirement System acquired a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $1,256,000. Cardinal Capital Management lifted its position in shares of Cirrus Logic by 1.2% during the 4th quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock valued at $1,379,000 after buying an additional 189 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Cirrus Logic by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 53,729 shares of the semiconductor company’s stock valued at $4,470,000 after buying an additional 703 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Stifel Nicolaus increased their target price on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. TD Cowen increased their target price on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. Susquehanna increased their target price on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Finally, Barclays raised their price objective on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $96.43.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $88.53 on Monday. The stock’s fifty day moving average is $90.01 and its two-hundred day moving average is $82.28. The firm has a market capitalization of $4.77 billion, a P/E ratio of 28.10 and a beta of 1.00. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. On average, equities analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock worth $700,292 in the last quarter. Company insiders own 0.89% of the company’s stock.

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 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 digital signal processing; boosted amplifiers; 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.