Charles Schwab Investment Management Inc. Has $71.53 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Charles Schwab Investment Management Inc. trimmed its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 718,353 shares of the semiconductor company’s stock after selling 2,418 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Cirrus Logic were worth $71,534,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. FMR LLC lifted its position in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock valued at $126,247,000 after buying an additional 387,346 shares during the period. Geode Capital Management LLC lifted its holdings in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after buying an additional 50,582 shares during the period. Allianz Asset Management GmbH lifted its holdings in Cirrus Logic by 137.2% in the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after buying an additional 604,431 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Cirrus Logic by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 479,812 shares of the semiconductor company’s stock valued at $47,780,000 after buying an additional 9,050 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Susquehanna increased their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Barclays increased their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, February 5th. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $132.86.

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $101.79 on Wednesday. The firm has a 50-day moving average of $103.77 and a 200-day moving average of $111.70. The stock has a market cap of $5.41 billion, a PE ratio of 18.47 and a beta of 0.89. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46.

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

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s 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 transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.02% of the company’s stock.

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.