Allianz Asset Management GmbH Has $8.39 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Allianz Asset Management GmbH grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 3.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,879 shares of the semiconductor company’s stock after purchasing an additional 3,413 shares during the period. Allianz Asset Management GmbH owned about 0.19% of Cirrus Logic worth $8,392,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Venturi Wealth Management LLC increased its stake in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares during the period. Quadrant Capital Group LLC increased its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of Cirrus Logic during the third quarter worth $62,000. Disciplined Equity Management Inc. purchased a new stake in shares of Cirrus Logic during the fourth quarter worth $83,000. Finally, Covestor Ltd boosted its position in Cirrus Logic by 13.2% during the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 174 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the sale, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $107.85, for a total transaction of $431,400.00. Following the transaction, the senior vice president now owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The disclosure for this sale can be found here. Insiders have sold a total of 7,000 shares of company stock valued at $773,950 in the last 90 days. 0.89% of the stock is owned by company insiders.

Cirrus Logic Trading Down 0.1 %

Shares of CRUS stock opened at $114.61 on Tuesday. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 23.25 and a beta of 0.96. The firm’s 50 day moving average is $97.53 and its 200-day moving average is $88.74. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $117.12.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The company had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. TD Cowen upped their target price on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, May 16th. KeyCorp upped their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Susquehanna boosted their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday, May 8th. Finally, Barclays lifted their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $107.86.

Check Out Our Latest Analysis on CRUS

Cirrus Logic Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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