Gotham Asset Management LLC Has $3.99 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Gotham Asset Management LLC cut its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,075 shares of the semiconductor company’s stock after selling 18,730 shares during the quarter. Gotham Asset Management LLC owned approximately 0.08% of Cirrus Logic worth $3,991,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in CRUS. Ensign Peak Advisors Inc increased its position in shares of Cirrus Logic by 2.6% during the 4th quarter. Ensign Peak Advisors Inc now owns 30,024 shares of the semiconductor company’s stock worth $2,990,000 after purchasing an additional 760 shares in the last quarter. FORA Capital LLC boosted its position in Cirrus Logic by 45.5% in the fourth quarter. FORA Capital LLC now owns 17,191 shares of the semiconductor company’s stock valued at $1,712,000 after buying an additional 5,372 shares in the last quarter. Deutsche Bank AG grew its stake in Cirrus Logic by 139.4% during the fourth quarter. Deutsche Bank AG now owns 586,733 shares of the semiconductor company’s stock worth $58,427,000 after buying an additional 341,615 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Cirrus Logic by 70.5% during the fourth quarter. EP Wealth Advisors LLC now owns 3,332 shares of the semiconductor company’s stock worth $332,000 after buying an additional 1,378 shares in the last quarter. Finally, CoreCap Advisors LLC raised its stake in shares of Cirrus Logic by 30.1% in the fourth quarter. CoreCap Advisors LLC now owns 7,658 shares of the semiconductor company’s stock valued at $763,000 after acquiring an additional 1,772 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

CRUS opened at $107.44 on Thursday. The company’s 50 day simple moving average is $94.85 and its 200-day simple moving average is $101.10. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The stock has a market capitalization of $5.71 billion, a P/E ratio of 19.50 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.15 by $0.52. The company had revenue of $424.46 million during the quarter, compared to analysts’ expectations of $380.26 million. Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same period last year, the firm earned $1.24 EPS. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 6th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays increased their price target on Cirrus Logic from $80.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 7th. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus set a $120.00 target price on Cirrus Logic in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $128.33.

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.