Burns Matteson Capital Management LLC Makes New $310,000 Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Burns Matteson Capital Management LLC acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,496 shares of the semiconductor company’s stock, valued at approximately $310,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its holdings in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares during the period. Atlas Capital Advisors LLC increased its position in shares of 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 acquiring an additional 204 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic during the 2nd quarter valued at $77,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

NASDAQ:CRUS traded up $0.02 during midday trading on Friday, reaching $119.71. 294,235 shares of the company traded hands, compared to its average volume of 482,122. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $147.46. The company has a fifty day moving average price of $130.43 and a 200 day moving average price of $118.33. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 22.13 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released 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 net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. During the same quarter last year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRUS shares. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $140.00 to $120.00 in a report on Thursday. KeyCorp boosted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Stifel Nicolaus raised their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Susquehanna boosted their price target on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $140.00.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction 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. This 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 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.