Kesler Norman & Wride LLC Makes New $454,000 Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Kesler Norman & Wride LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,653 shares of the semiconductor company’s stock, valued at approximately $454,000.

Several other large investors have also recently added to or reduced their stakes in CRUS. Atlas Capital Advisors LLC increased its position in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares during the period. Versant Capital Management Inc increased its position in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Cirrus Logic in the second quarter worth $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after buying an additional 329 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction on 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 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the 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 transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $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 corporate insiders.

Analyst Ratings Changes

CRUS has been the topic of several analyst reports. KeyCorp increased their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Stifel Nicolaus raised their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Susquehanna raised their price target on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Finally, Barclays raised their price target on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Cirrus Logic Stock Up 1.0 %

NASDAQ:CRUS opened at $118.54 on Wednesday. The business’s 50-day moving average price is $130.55 and its 200 day moving average price is $118.09. The firm 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 52-week low of $65.02 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) 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 period in the previous year, the company earned $0.35 earnings per share. Cirrus Logic’s revenue was up 18.0% compared to the same quarter last year. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.26 EPS 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.