D.A. Davidson & CO. Increases Stake in Cirrus Logic, Inc. (CRUS)

D.A. Davidson & CO. boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,800 shares of the semiconductor company’s stock after acquiring an additional 3,300 shares during the period. D.A. Davidson & CO.’s holdings in Cirrus Logic were worth $690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock valued at $216,916,000 after acquiring an additional 24,334 shares during the period. Vanguard Group Inc lifted its position in Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 5,619,593 shares of the semiconductor company’s stock valued at $216,916,000 after acquiring an additional 24,334 shares during the period. LSV Asset Management lifted its position in Cirrus Logic by 1.9% during the 3rd quarter. LSV Asset Management now owns 3,285,586 shares of the semiconductor company’s stock valued at $126,823,000 after acquiring an additional 59,700 shares during the period. AQR Capital Management LLC lifted its position in Cirrus Logic by 1.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock valued at $106,768,000 after acquiring an additional 52,377 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cirrus Logic by 6.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,272,031 shares of the semiconductor company’s stock valued at $87,699,000 after acquiring an additional 144,179 shares during the period. 90.66% of the stock is owned by institutional investors.

Shares of Cirrus Logic stock opened at $38.29 on Friday. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.52 and a beta of 0.61. Cirrus Logic, Inc. has a 52-week low of $31.25 and a 52-week high of $46.18.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.13. The business had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $319.37 million. Cirrus Logic had a net margin of 7.68% and a return on equity of 11.88%. The business’s revenue for the quarter was down 32.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.59 earnings per share. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 1.72 EPS for the current fiscal year.

Cirrus Logic declared that its board has authorized a stock repurchase plan on Wednesday, January 30th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor company to repurchase up to 8.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

In other news, Director Timothy R. Dehne sold 3,056 shares of the business’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $38.72, for a total transaction of $118,328.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Randolph K. Carlson sold 10,848 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $37.43, for a total transaction of $406,040.64. The disclosure for this sale can be found here. 2.32% of the stock is currently owned by insiders.

A number of research analysts recently issued reports on CRUS shares. BidaskClub raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a research report on Thursday, October 18th. ValuEngine raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Craig Hallum reissued a “buy” rating and set a $47.00 price target (down from $51.00) on shares of Cirrus Logic in a research report on Friday, November 2nd. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research cut shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $42.13.

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Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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