Van ECK Associates Corp Acquires 19,979 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 56.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 55,633 shares of the semiconductor company’s stock after buying an additional 19,979 shares during the period. Van ECK Associates Corp owned about 0.10% of Cirrus Logic worth $5,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Huntington National Bank raised its holdings in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after buying an additional 210 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic in the third quarter worth $31,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic during the third quarter worth $35,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Cirrus Logic during the fourth quarter worth $46,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRUS has been the subject of several recent research reports. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 5th. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus lowered their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Susquehanna boosted their price target 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. Finally, Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.86.

Insider Activity at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. 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 insiders.

Cirrus Logic Stock Up 2.0 %

Shares of CRUS opened at $111.20 on Wednesday. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The firm’s 50 day moving average price is $102.76 and its 200 day moving average price is $114.66. The company has a market cap of $5.91 billion, a P/E ratio of 20.18 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results 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 16.55% and a return on equity of 16.60%. Research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

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 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.