Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Creative Planning

Creative Planning boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 35.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,200 shares of the semiconductor company’s stock after buying an additional 2,682 shares during the quarter. Creative Planning’s holdings in Cirrus Logic were worth $1,267,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its position in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares during the period. GAMMA Investing LLC grew its position in shares of Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of Cirrus Logic in the second quarter valued at about $77,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after purchasing an additional 329 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 during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on CRUS shares. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Susquehanna lowered their price target on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $140.00 to $120.00 in a research report on Thursday, October 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $137.50.

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’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 value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’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 value of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the business’s 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 completion of the sale, the vice president now directly owns 4,004 shares in the company, valued at $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. 1.02% of the stock is owned by insiders.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $114.22 on Thursday. The firm’s 50-day moving average is $127.59 and its two-hundred day moving average is $121.31. Cirrus Logic, Inc. has a 12 month low of $65.08 and a 12 month high of $147.46. The company has a market capitalization of $6.10 billion, a PE ratio of 21.11 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $318.41 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Cirrus Logic’s quarterly revenue was up 18.0% compared to the same quarter last year. Sell-side analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS for the current year.

Cirrus Logic 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.