Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Kendall Capital Management

Kendall Capital Management increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 13.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,095 shares of the semiconductor company’s stock after acquiring an additional 1,100 shares during the quarter. Kendall Capital Management’s holdings in Cirrus Logic were worth $1,161,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% in the 1st 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 during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Cirrus Logic by 72.3% in the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of 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 purchasing an additional 344 shares during the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $61,000 after purchasing an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic in the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS opened at $122.84 on Thursday. The company has a 50-day moving average of $134.67 and a 200-day moving average of $114.88. The company has a market capitalization of $6.57 billion, a P/E ratio of 24.92 and a beta of 0.97. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results 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 company had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The company’s revenue was up 18.0% on a year-over-year basis. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 5.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRUS shares. Barclays lifted their price target on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. 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 report on Wednesday, August 7th. 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 report on Thursday, July 18th. 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 report on Wednesday, July 17th. Finally, StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the business’s 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 sale, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cirrus Logic 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 completion of the transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the business’s 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 transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

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.