Assetmark Inc. Purchases 338 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Assetmark Inc. increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 11.5% during the 4th quarter, HoldingsChannel reports. The fund owned 3,283 shares of the semiconductor company’s stock after purchasing an additional 338 shares during the quarter. Assetmark Inc.’s holdings in Cirrus Logic were worth $327,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic during the fourth quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the third quarter valued at approximately $35,000. Sound Income Strategies LLC bought a new position in Cirrus Logic in the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter worth $47,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays raised their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, February 5th. Finally, Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $97.89 on Thursday. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The company’s 50 day moving average price is $103.74 and its two-hundred day moving average price is $111.60. The company has a market capitalization of $5.20 billion, a P/E ratio of 17.77 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 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%. Analysts forecast that Cirrus Logic, Inc. will post 5.63 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.