Assenagon Asset Management S.A. Has $17.08 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Assenagon Asset Management S.A. boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 223.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 144,139 shares of the semiconductor company’s stock after purchasing an additional 99,526 shares during the quarter. Assenagon Asset Management S.A. owned 0.28% of Cirrus Logic worth $17,080,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRUS. Vanguard Group Inc. boosted its position in shares of Cirrus Logic by 4.2% during the third quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock worth $829,724,000 after purchasing an additional 268,560 shares in the last quarter. Earnest Partners LLC increased its position in shares of Cirrus Logic by 0.8% in the 3rd quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock valued at $168,980,000 after buying an additional 10,750 shares in the last quarter. Sei Investments Co. raised its stake in Cirrus Logic by 2.2% during the 3rd quarter. Sei Investments Co. now owns 926,958 shares of the semiconductor company’s stock worth $116,140,000 after buying an additional 20,381 shares during the period. Royce & Associates LP lifted its holdings in Cirrus Logic by 5.1% during the third quarter. Royce & Associates LP now owns 713,999 shares of the semiconductor company’s stock worth $89,457,000 after acquiring an additional 34,839 shares in the last quarter. Finally, Norges Bank bought a new position in Cirrus Logic during the second quarter worth about $68,744,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $148.69 on Friday. The firm has a market cap of $7.58 billion, a price-to-earnings ratio of 19.59 and a beta of 1.12. The stock’s 50-day moving average is $136.62 and its 200-day moving average is $127.40. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $154.90.

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

Insider Transactions at Cirrus Logic

In other news, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total value of $2,947,080.90. Following the sale, the chief executive officer directly owned 50,723 shares in the company, valued at $6,855,213.45. This trade represents a 30.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This represents a 33.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,045 shares of company stock valued at $3,835,300 in the last ninety days. 1.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CRUS shares. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, February 2nd. Stifel Nicolaus lifted their price objective on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Barclays boosted their price objective on Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Finally, Benchmark lifted their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $146.86.

Cirrus Logic Profile

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.