Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,681 shares of the semiconductor company’s stock after acquiring an additional 1,053 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Cirrus Logic worth $6,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the last quarter. LSV Asset Management grew its stake in Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after buying an additional 486,086 shares during the last quarter. Wellington Management Group LLP increased its position in Cirrus Logic by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after buying an additional 38,659 shares during the period. Earnest Partners LLC increased its position in Cirrus Logic by 3.0% during the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after buying an additional 39,759 shares during the period. Finally, Sei Investments Co. lifted its stake in Cirrus Logic by 8.6% in the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after buying an additional 59,690 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented 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 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, October 1st. KeyCorp increased their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays boosted their price target on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Susquehanna increased their price objective on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $143.33.

Cirrus Logic Trading Up 0.6 %

NASDAQ CRUS opened at $119.61 on Friday. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 24.26 and a beta of 0.96. The business’s 50 day moving average is $131.03 and its two-hundred day moving average is $117.31. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. Cirrus Logic’s quarterly revenue was up 18.0% on a year-over-year basis. Equities analysts forecast that Cirrus Logic, Inc. will post 5.26 earnings per share 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.