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Cirrus Logic, Inc. (CRUS): Are Hedge Funds Right About This Stock?

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Legendary investors such as Leon Cooperman and Seth Klarman earn enormous amounts of money for themselves and their investors by doing in-depth research on small-cap stocks that big brokerage houses don’t publish. Small cap stocks -especially when they are screened well- can generate substantial outperformance versus a boring index fund. That’s why we analyze the activity of those elite funds in these small-cap stocks. In the following paragraphs, we analyze Cirrus Logic, Inc. (NASDAQ:CRUS) from the perspective of those elite funds.

Is Cirrus Logic, Inc. (NASDAQ:CRUS) worth your attention right now? Hedge funds are in an optimistic mood. The number of long hedge fund bets improved by 5 recently. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity, but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Cousins Properties Inc (NYSE:CUZ), Moog Inc (NYSE:MOG), and TerraForm Power Inc (NASDAQ:TERP) to gather more data points.

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At the moment there are a lot of metrics stock traders employ to assess their stock investments. Two of the most useful metrics are hedge fund and insider trading indicators. We have shown that, historically, those who follow the best picks of the top fund managers can outclass the broader indices by a very impressive margin (see the details here).

Now, let’s take a peek at the recent action surrounding Cirrus Logic, Inc. (NASDAQ:CRUS).

How are hedge funds trading Cirrus Logic, Inc. (NASDAQ:CRUS)?

At Q3’s end, a total of 30 of the hedge funds tracked by Insider Monkey were long this stock, a rise of 20% from the second quarter. With hedge funds’ sentiment swirling, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).

According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Joel Greenblatt’s Gotham Asset Management has the number one position in Cirrus Logic, Inc. (NASDAQ:CRUS), worth close to $35.9 million, comprising 0.4% of its total 13F portfolio. On Gotham Asset Management’s heels is Carlson Capital, led by Clint Carlson, holding a $22.8 million position; 0.3% of its 13F portfolio is allocated to the stock. Remaining peers that hold long positions contain Jim Simons’s Renaissance Technologies, D. E. Shaw’s D E Shaw and Israel Englander’s Millennium Management.

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