Sei Investments Co. Has $96.59 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Sei Investments Co. grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756,585 shares of the semiconductor company’s stock after buying an additional 59,690 shares during the quarter. Sei Investments Co. owned approximately 1.42% of Cirrus Logic worth $96,587,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. 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 worth $37,000 after acquiring an additional 204 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 214 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares in 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 buying an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic in the second quarter valued at $77,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 1.6 %

Cirrus Logic stock opened at $123.11 on Friday. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 24.97 and a beta of 0.97. The stock’s 50 day moving average is $133.91 and its 200-day moving average is $115.41. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $147.46.

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 return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter last year, the business earned $0.35 EPS. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cirrus Logic 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 value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred on 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 directly owns 4,004 shares in the company, valued at $544,704.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Susquehanna upped their price target 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. Barclays raised their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Stifel Nicolaus boosted their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

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.