Massachusetts Financial Services Co. MA Grows Stock Holdings in Cirrus Logic, Inc. $CRUS

Massachusetts Financial Services Co. MA raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 105,107 shares of the semiconductor company’s stock after buying an additional 16,486 shares during the period. Massachusetts Financial Services Co. MA owned about 0.21% of Cirrus Logic worth $12,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in CRUS. Vaughan Nelson Investment Management L.P. boosted its position in Cirrus Logic by 546.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company’s stock valued at $46,005,000 after buying an additional 328,159 shares during the period. Vanguard Group Inc. increased its holdings in Cirrus Logic by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock worth $829,724,000 after purchasing an additional 268,560 shares during the period. SG Americas Securities LLC increased its holdings in Cirrus Logic by 1,356.2% during the 3rd quarter. SG Americas Securities LLC now owns 171,165 shares of the semiconductor company’s stock worth $21,445,000 after purchasing an additional 159,411 shares during the period. Voloridge Investment Management LLC purchased a new position in Cirrus Logic during the 3rd quarter worth $19,508,000. Finally, Barclays PLC increased its holdings in Cirrus Logic by 234.4% during the 3rd quarter. Barclays PLC now owns 183,122 shares of the semiconductor company’s stock worth $22,943,000 after purchasing an additional 128,362 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cirrus Logic

In other news, EVP Scott Thomas sold 9,942 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total value of $1,591,813.62. Following the completion of the sale, the executive vice president owned 30,393 shares of the company’s stock, valued at $4,866,223.23. This trade represents a 24.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. This represents a 33.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,987 shares of company stock valued at $5,427,114 in the last quarter. 1.16% of the stock is currently owned by corporate insiders.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $164.84 on Friday. The stock has a market capitalization of $8.41 billion, a price-to-earnings ratio of 21.72 and a beta of 1.08. Cirrus Logic, Inc. has a 1-year low of $83.43 and a 1-year high of $165.28. The business has a fifty day moving average price of $143.47 and a 200-day moving average price of $130.69.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. The firm had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The business’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.51 EPS. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on CRUS shares. Benchmark raised their price objective on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Barclays raised their price objective on Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Stifel Nicolaus raised their price objective on Cirrus Logic from $163.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday. Finally, KeyCorp raised their price objective on Cirrus Logic from $150.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, April 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.14.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.