Jump Financial LLC Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Jump Financial LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,100 shares of the semiconductor company’s stock, valued at approximately $591,000.

A number of other hedge funds also recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after buying an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Cirrus Logic in the 3rd quarter valued at $62,000. Disciplined Equity Management Inc. acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at $83,000. Finally, Covestor Ltd boosted its holdings in shares of Cirrus Logic by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 174 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the company. KeyCorp increased their target price on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Barclays raised their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $107.86.

Cirrus Logic Stock Up 0.6 %

CRUS opened at $113.72 on Wednesday. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $114.20. The company has a fifty day moving average of $93.05 and a 200-day moving average of $86.10. The stock has a market cap of $6.13 billion, a PE ratio of 23.07 and a beta of 0.99.

Insider Buying and Selling at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares of the company’s stock, valued at $629,628.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $107.85, for a total transaction of $431,400.00. Following the transaction, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at $629,628.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.

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 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 digital signal processing; boosted amplifiers; 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.