Raymond James Financial Inc. Purchases New Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James Financial Inc. acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 52,469 shares of the semiconductor company’s stock, valued at approximately $5,225,000. Raymond James Financial Inc. owned 0.10% of Cirrus Logic at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the 4th quarter valued at approximately $28,000. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic during the third quarter worth $35,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic during the fourth quarter valued at $46,000. R Squared Ltd acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at about $47,000. Finally, Quent Capital LLC lifted its holdings in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 296 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $102.66 on Wednesday. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The stock has a market capitalization of $5.46 billion, a PE ratio of 18.63 and a beta of 0.89. The stock has a 50-day simple moving average of $103.43 and a 200 day simple moving average of $108.84.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of analyst reports. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays raised their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Benchmark reaffirmed a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One 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, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.