John G Ullman & Associates Inc. Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

John G Ullman & Associates Inc. bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,950 shares of the semiconductor company’s stock, valued at approximately $366,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $51,890,000. Balyasny Asset Management L.P. grew its stake in shares of Cirrus Logic by 307.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock worth $58,777,000 after buying an additional 533,019 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $27,072,000. Sei Investments Co. lifted its position in Cirrus Logic by 30.8% in the 4th quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock valued at $54,406,000 after acquiring an additional 153,946 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after acquiring an additional 105,577 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the transaction, the senior vice president now owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the transaction, the senior vice president now owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,706 shares of company stock valued at $2,187,098. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of several analyst reports. Susquehanna upped their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research report on Wednesday, May 8th. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. TD Cowen increased their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. KeyCorp increased their price target on Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $112.86.

Cirrus Logic Stock Up 1.5 %

CRUS stock traded up $1.97 during trading on Friday, reaching $137.19. The company’s stock had a trading volume of 29,608 shares, compared to its average volume of 450,090. The company has a market capitalization of $7.33 billion, a P/E ratio of 27.43 and a beta of 0.94. The company’s fifty day moving average is $118.30 and its 200-day moving average is $97.67. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $138.65.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The firm had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Analysts anticipate that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Cirrus Logic Company 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.