Cirrus Logic, Inc. (NASDAQ:CRUS) Stock Holdings Lifted by Truvestments Capital LLC

Truvestments Capital LLC lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,362 shares of the semiconductor company’s stock after acquiring an additional 740 shares during the quarter. Truvestments Capital LLC’s holdings in Cirrus Logic were worth $404,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Venturi Wealth Management LLC raised its position in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Atlas Capital Advisors LLC raised its holdings in Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares during the period. Quadrant Capital Group LLC lifted its stake in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Disciplined Equity Management Inc. acquired a new position in shares of Cirrus Logic in the fourth quarter worth about $83,000. Finally, SG Americas Securities LLC purchased a new position in shares of Cirrus Logic in the fourth quarter worth approximately $173,000. 87.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Friday. KeyCorp raised their target price on Cirrus Logic from $120.00 to $155.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. TD Cowen boosted their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Susquehanna boosted their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Finally, Benchmark downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $128.57.

Cirrus Logic Price Performance

Shares of CRUS traded up $2.43 during trading hours on Friday, hitting $129.24. The stock had a trading volume of 405,489 shares, compared to its average volume of 449,097. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $142.83. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 26.22 and a beta of 0.94. The company’s fifty day moving average is $125.48 and its two-hundred day moving average is $101.93.

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

Insider Activity

In other Cirrus Logic 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 transaction of $431,400.00. Following the sale, 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 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 value of $1,413,148.32. Following the transaction, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 4,000 shares of Cirrus Logic stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares of the company’s stock, valued at $629,628.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,706 shares of company stock worth $2,187,098. 1.02% of the stock is owned by corporate insiders.

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.