KBC Group NV Boosts Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

KBC Group NV increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,896 shares of the semiconductor company’s stock after acquiring an additional 653 shares during the quarter. KBC Group NV’s holdings in Cirrus Logic were worth $189,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Cirrus Logic by 19.3% in the 4th quarter. Blue Trust Inc. now owns 6,499 shares of the semiconductor company’s stock valued at $647,000 after buying an additional 1,050 shares during the period. Impact Partnership Wealth LLC purchased a new position in Cirrus Logic in the fourth quarter worth approximately $244,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic during the fourth quarter worth $46,000. Janney Montgomery Scott LLC raised its position in Cirrus Logic by 8.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 2,992 shares of the semiconductor company’s stock valued at $298,000 after purchasing an additional 221 shares during the period. Finally, Bartlett & CO. Wealth Management LLC lifted its stake in shares of Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock valued at $70,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CRUS. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna increased their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. Barclays lowered their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.50.

Cirrus Logic Trading Up 2.1 %

NASDAQ:CRUS opened at $101.39 on Wednesday. Cirrus Logic, Inc. has a 12-month low of $76.58 and a 12-month high of $147.46. The firm has a market cap of $5.39 billion, a PE ratio of 17.18 and a beta of 0.91. The stock has a fifty day moving average price of $102.43 and a 200 day moving average price of $116.21.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Equities analysts forecast that Cirrus Logic, Inc. will post 5.21 EPS for the current year.

Cirrus Logic 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 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.