Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Simplicity Wealth LLC

Simplicity Wealth LLC increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,597 shares of the semiconductor company’s stock after acquiring an additional 260 shares during the quarter. Simplicity Wealth LLC’s holdings in Cirrus Logic were worth $944,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Atlas Capital Advisors LLC grew its position in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc grew its holdings in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 344 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $77,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated 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 approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $119.71 on Friday. The company has a fifty day moving average of $130.43 and a two-hundred day moving average of $118.53. The company has a market capitalization of $6.39 billion, a PE ratio of 22.13 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business’s revenue was up 18.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.35 earnings per share. On average, research analysts expect that Cirrus Logic, Inc. will post 5.26 earnings per share for the current 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.