Aristides Capital LLC Purchases Shares of 1,683 Cirrus Logic, Inc. (NASDAQ:CRUS)

Aristides Capital LLC acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,683 shares of the semiconductor company’s stock, valued at approximately $215,000.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRUS. Barclays increased their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Susquehanna raised their price objective 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. Stifel Nicolaus upped 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 upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Finally, KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $143.33.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on 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 in the company, valued at $544,704.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction 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 owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,343,837.13. Following the completion of 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 Stock Performance

NASDAQ CRUS opened at $119.02 on Wednesday. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $147.46. The company has a fifty day moving average of $131.56 and a 200-day moving average of $117.06. The company has a market capitalization of $6.36 billion, a P/E ratio of 24.14 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 17.42% and a net margin of 16.31%. The company’s revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 earnings per share. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS for the current fiscal year.

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.