Hedge Funds Are Crazy About Cirrus Logic, Inc. (NASDAQ:CRUS)

Cirrus Logic, Inc. (NASDAQ:CRUS) was in 19 hedge funds’ portfolio at the end of December. CRUS investors should pay attention to an increase in activity from the world’s largest hedge funds of late. There were 18 hedge funds in our database with CRUS positions at the end of the previous quarter.

Cirrus Logic, Inc. (NASDAQ:CRUS)

In the 21st century investor’s toolkit, there are many gauges shareholders can use to monitor publicly traded companies. A pair of the most useful are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the top picks of the best fund managers can outclass their index-focused peers by a superb margin (see just how much).

Equally as key, positive insider trading sentiment is a second way to break down the stock market universe. Obviously, there are many motivations for a bullish insider to sell shares of his or her company, but only one, very obvious reason why they would initiate a purchase. Various academic studies have demonstrated the useful potential of this tactic if shareholders understand what to do (learn more here).

Consequently, we’re going to take a look at the key action encompassing Cirrus Logic, Inc. (NASDAQ:CRUS).

What does the smart money think about Cirrus Logic, Inc. (NASDAQ:CRUS)?

Heading into 2013, a total of 19 of the hedge funds we track were long in this stock, a change of 6% from one quarter earlier. With hedge funds’ capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were boosting their stakes substantially.

When looking at the hedgies we track, Andor Capital Management, managed by Daniel Benton, holds the most valuable position in Cirrus Logic, Inc. (NASDAQ:CRUS). Andor Capital Management has a $43 million position in the stock, comprising 7.6% of its 13F portfolio. Coming in second is Chuck Royce of Royce & Associates, with a $11 million position; 0.1% of its 13F portfolio is allocated to the stock. Remaining hedgies with similar optimism include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Eric Sprott’s Sprott Asset Management and Glenn Russell Dubin’s Highbridge Capital Management.

As industrywide interest jumped, some big names have been driving this bullishness. Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, established the most valuable position in Cirrus Logic, Inc. (NASDAQ:CRUS). Arrowstreet Capital had 10 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $9 million position during the quarter. The other funds with brand new CRUS positions are Christopher C. Grisanti’s Grisanti Brown & Partners, Scott Fine and Peter Richards’s Empire Capital Management, and Geoffrey S. McCuskey’s Riverside Advisors.

What have insiders been doing with Cirrus Logic, Inc. (NASDAQ:CRUS)?

Bullish insider trading is at its handiest when the primary stock in question has experienced transactions within the past six months. Over the latest half-year time frame, Cirrus Logic, Inc. (NASDAQ:CRUS) has seen zero unique insiders purchasing, and 7 insider sales (see the details of insider trades here).

With the returns exhibited by the aforementioned strategies, everyday investors must always watch hedge fund and insider trading sentiment, and Cirrus Logic, Inc. (NASDAQ:CRUS) is no exception.

Click here to learn more about Insider Monkey’s Hedge Fund Newsletter

Insider Monkey’s small-cap strategy returned 29.2% between September 2012 and February 2013 versus 8.7% for the S&P 500 index. Try it now by clicking the link above.

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