Wealthfront Advisers LLC Makes New $7.24 Million Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Wealthfront Advisers LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 72,713 shares of the semiconductor company’s stock, valued at approximately $7,241,000. Wealthfront Advisers LLC owned 0.14% of Cirrus Logic at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Inspire Advisors LLC increased its stake in Cirrus Logic by 2.8% during the 4th quarter. Inspire Advisors LLC now owns 32,096 shares of the semiconductor company’s stock worth $3,196,000 after acquiring an additional 861 shares during the period. Moran Wealth Management LLC increased its stake in Cirrus Logic by 0.5% during the 4th quarter. Moran Wealth Management LLC now owns 58,274 shares of the semiconductor company’s stock worth $5,803,000 after acquiring an additional 284 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Cirrus Logic by 19.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,248 shares of the semiconductor company’s stock worth $1,419,000 after acquiring an additional 2,320 shares during the period. AlphaQuest LLC increased its stake in Cirrus Logic by 39.6% during the 4th quarter. AlphaQuest LLC now owns 7,632 shares of the semiconductor company’s stock worth $760,000 after acquiring an additional 2,166 shares during the period. Finally, Kendall Capital Management increased its stake in Cirrus Logic by 2.4% during the 4th quarter. Kendall Capital Management now owns 9,310 shares of the semiconductor company’s stock worth $927,000 after acquiring an additional 215 shares during the period. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Stock Down 3.8 %

NASDAQ CRUS opened at $97.89 on Thursday. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The company has a market cap of $5.20 billion, a price-to-earnings ratio of 17.77 and a beta of 0.89. The business’s fifty day moving average is $103.74 and its 200 day moving average is $111.60.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate 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 anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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.