Mariner LLC Raises Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mariner LLC raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 32.0% during the fourth quarter, HoldingsChannel reports. The firm owned 6,648 shares of the semiconductor company’s stock after buying an additional 1,610 shares during the quarter. Mariner LLC’s holdings in Cirrus Logic were worth $662,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of CRUS. LSV Asset Management increased its holdings in Cirrus Logic by 7.3% in the fourth quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company’s stock valued at $224,728,000 after buying an additional 154,048 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cirrus Logic by 4.1% in the 4th quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company’s stock valued at $163,639,000 after acquiring an additional 65,441 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Cirrus Logic by 44.0% during the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after acquiring an additional 387,346 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cirrus Logic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company’s stock worth $116,684,000 after purchasing an additional 33,204 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted 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 purchasing an additional 604,431 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 0.1 %

Cirrus Logic stock opened at $93.55 on Wednesday. The stock has a 50 day moving average of $96.09 and a two-hundred day moving average of $102.69. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 16.98 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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%. Equities analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CRUS shares. Barclays reduced their price objective on shares of Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Finally, Benchmark reiterated a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.86.

Cirrus Logic 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.