Profund Advisors LLC Raises Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Profund Advisors LLC raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 5,271 shares of the semiconductor company’s stock after acquiring an additional 103 shares during the period. Profund Advisors LLC’s holdings in Cirrus Logic were worth $673,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CRUS. Quadrant Capital Group LLC lifted its position 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 purchasing an additional 214 shares during the period. Norges Bank purchased a new position in shares of Cirrus Logic in the 4th quarter worth $51,890,000. Wells Fargo & Company MN grew its holdings in shares of Cirrus Logic by 2.8% in the fourth quarter. Wells Fargo & Company MN now owns 80,723 shares of the semiconductor company’s stock worth $6,715,000 after acquiring an additional 2,191 shares during the period. Franklin Resources Inc. increased its position in shares of Cirrus Logic by 6.4% during the 4th quarter. Franklin Resources Inc. now owns 55,570 shares of the semiconductor company’s stock valued at $4,623,000 after purchasing an additional 3,342 shares during the last quarter. Finally, Hsbc Holdings PLC increased its holdings in Cirrus Logic by 47.7% during the fourth quarter. Hsbc Holdings PLC now owns 69,620 shares of the semiconductor company’s stock valued at $5,819,000 after buying an additional 22,498 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several recent research reports. Barclays raised their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. KeyCorp upped their price target 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. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Susquehanna upped their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $143.33.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $122.73 on Wednesday. The firm has a market capitalization of $6.56 billion, a P/E ratio of 24.89 and a beta of 0.96. The company’s 50-day moving average is $133.20 and its 200 day moving average is $116.00. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The firm had revenue of $374.03 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 earnings per share. Research analysts anticipate that Cirrus Logic, Inc. will post 5.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction 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 transaction, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Andrew Brannan sold 4,350 shares of the company’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 owns 4,004 shares in the company, valued at $544,704.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now 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 currently owned by corporate insiders.

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.