Zurcher Kantonalbank Zurich Cantonalbank Acquires 2,320 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,248 shares of the semiconductor company’s stock after buying an additional 2,320 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Cirrus Logic were worth $1,419,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Barclays upped their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Stock Performance

CRUS stock opened at $100.86 on Wednesday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company’s fifty day moving average price is $103.57 and its 200-day moving average price is $110.15. The company has a market capitalization of $5.36 billion, a PE ratio of 18.30 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly 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 net margin of 16.55% and a return on equity of 16.60%. On average, research analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity at Cirrus Logic

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

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.