Optimize Financial Inc Makes New $1.30 Million Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Optimize Financial Inc bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,082 shares of the semiconductor company’s stock, valued at approximately $1,303,000. Cirrus Logic makes up about 1.0% of Optimize Financial Inc’s holdings, making the stock its 26th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the fourth quarter worth $28,000. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic during the 3rd quarter worth $35,000. Headlands Technologies LLC purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $39,000. Sound Income Strategies LLC bought a new position in Cirrus Logic during the fourth quarter valued at about $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic during the fourth quarter worth about $47,000. Institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Trading Up 1.7 %

Shares of CRUS stock opened at $86.27 on Friday. The firm’s 50 day moving average is $100.61 and its 200 day moving average is $105.31. The stock has a market capitalization of $4.58 billion, a P/E ratio of 15.66 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its 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, equities analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reiterated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays increased their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. 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.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.