Northwestern Mutual Wealth Management Co. Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Northwestern Mutual Wealth Management Co. raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 961 shares of the semiconductor company’s stock after purchasing an additional 329 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cirrus Logic were worth $123,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRUS. Creative Planning raised its holdings in shares of Cirrus Logic by 31.6% in the 2nd quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 1,807 shares during the period. Algert Global LLC raised its holdings in shares of Cirrus Logic by 7.7% in the 2nd quarter. Algert Global LLC now owns 152,458 shares of the semiconductor company’s stock valued at $19,463,000 after buying an additional 10,836 shares during the period. Susquehanna Fundamental Investments LLC increased its holdings in Cirrus Logic by 741.0% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company’s stock worth $3,543,000 after purchasing an additional 24,454 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Cirrus Logic by 2.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 47,681 shares of the semiconductor company’s stock worth $6,087,000 after purchasing an additional 1,053 shares during the period. Finally, Earnest Partners LLC increased its holdings in Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after purchasing an additional 39,759 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $119.71 on Friday. The stock has a 50-day simple moving average of $130.43 and a 200-day simple moving average of $118.33. The stock has a market cap of $6.39 billion, a P/E ratio of 22.13 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced 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 analysts’ expectations of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. On average, equities research analysts predict that Cirrus Logic, Inc. will post 5.26 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CRUS shares. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. KeyCorp upped 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. Barclays downgraded Cirrus Logic from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $140.00 to $120.00 in a report on Thursday. Susquehanna upped their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Stifel Nicolaus upped their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.00.

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.