Raymond James Financial Inc. Makes New $5.23 Million Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James Financial Inc. acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 52,469 shares of the semiconductor company’s stock, valued at approximately $5,225,000. Raymond James Financial Inc. owned about 0.10% of Cirrus Logic at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter worth approximately $28,000. Westside Investment Management Inc. acquired 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 $39,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the fourth quarter valued at $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic during the fourth quarter valued at about $47,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 1.1 %

Shares of NASDAQ:CRUS opened at $93.41 on Friday. The company has a market capitalization of $4.96 billion, a price-to-earnings ratio of 16.95 and a beta of 0.95. The company has a 50 day moving average of $96.80 and a two-hundred day moving average of $103.18. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results 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%. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.02% of the stock is owned by insiders.

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.