Susquehanna Fundamental Investments LLC Has $3.54 Million Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Susquehanna Fundamental Investments LLC increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 741.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,754 shares of the semiconductor company’s stock after acquiring an additional 24,454 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.05% of Cirrus Logic worth $3,543,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Profund Advisors LLC raised its stake in shares of Cirrus Logic by 2.0% in the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock worth $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors grew its holdings in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after buying an additional 119 shares in the last quarter. Oak Associates Ltd. OH raised its position in Cirrus Logic by 0.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock valued at $4,363,000 after buying an additional 134 shares during the last quarter. Holderness Investments Co. lifted its stake in Cirrus Logic by 0.3% during the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after acquiring an additional 155 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Cirrus Logic by 19.5% during the 2nd quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after acquiring an additional 163 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock opened at $121.60 on Monday. The stock has a market capitalization of $6.50 billion, a P/E ratio of 24.67 and a beta of 0.97. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $147.46. The stock’s 50-day simple moving average is $132.22 and its 200 day simple moving average is $116.60.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 EPS 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 period last year, the firm earned $0.35 EPS. Cirrus Logic’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities research analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction dated Wednesday, August 14th. The stock was 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 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 can be accessed through this link. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction dated Friday, August 9th. The stock was 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 directly owns 4,838 shares in the company, valued at $637,212.98. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Susquehanna raised their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Barclays boosted their target price on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. KeyCorp lifted 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. Finally, Stifel Nicolaus upped 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. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $143.33.

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.