3,797 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Shaker Investments LLC OH

Shaker Investments LLC OH acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,797 shares of the semiconductor company’s stock, valued at approximately $472,000.

Other institutional investors also recently bought and sold shares of the company. Atlas Capital Advisors LLC raised its holdings in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the period. GAMMA Investing LLC increased its stake in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic in the second quarter worth about $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent research reports. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Barclays downgraded Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $140.00 to $120.00 in a report on Thursday. Susquehanna lifted their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. KeyCorp lifted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Cirrus Logic Price Performance

CRUS stock opened at $119.71 on Friday. The company has a 50 day moving average price of $130.43 and a 200 day moving average price of $118.53. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The stock has a market capitalization of $6.39 billion, a PE ratio of 22.13 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter in the previous year, the company posted $0.35 EPS. Cirrus Logic’s revenue was up 18.0% on a year-over-year basis. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

About Cirrus Logic

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.