Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Bank of Montreal Can

Bank of Montreal Can grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,398 shares of the semiconductor company’s stock after purchasing an additional 166 shares during the period. Bank of Montreal Can’s holdings in Cirrus Logic were worth $689,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRUS. Holderness Investments Co. increased its stake in Cirrus Logic by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after buying an additional 155 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Cirrus Logic by 5.0% in the second quarter. ProShare Advisors LLC now owns 10,901 shares of the semiconductor company’s stock valued at $1,392,000 after acquiring an additional 519 shares in the last quarter. Profund Advisors LLC increased its stake 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 worth $673,000 after acquiring an additional 103 shares during the period. Ensign Peak Advisors Inc increased its stake in shares of Cirrus Logic by 37.0% during the second quarter. Ensign Peak Advisors Inc now owns 25,729 shares of the semiconductor company’s stock worth $3,285,000 after acquiring an additional 6,950 shares during the period. Finally, Sei Investments Co. raised its holdings in Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock worth $96,587,000 after purchasing an additional 59,690 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

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 stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’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 $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the firm’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 of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRUS has been the topic of a number of analyst reports. Barclays lifted their price objective on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. KeyCorp upped their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. 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 note on Wednesday, July 17th. Finally, Stifel Nicolaus increased their price target 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. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Cirrus Logic Stock Up 1.0 %

Shares of CRUS stock opened at $118.54 on Wednesday. The stock has a market cap of $6.34 billion, a P/E ratio of 24.04 and a beta of 0.96. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The business has a fifty day simple moving average of $130.55 and a 200-day simple moving average of $118.09.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating 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 firm 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 posted $0.35 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.26 earnings per share for the current 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.