Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Simplicity Wealth LLC

Simplicity Wealth LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 7,597 shares of the semiconductor company’s stock after acquiring an additional 260 shares during the period. Simplicity Wealth LLC’s holdings in Cirrus Logic were worth $944,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its position in 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 in the last quarter. Atlas Capital Advisors LLC increased its stake in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. GAMMA Investing LLC lifted its position in Cirrus Logic by 79.5% during 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. purchased a new stake in Cirrus Logic in the 2nd quarter valued at about $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $119.71 on Friday. The business’s 50-day simple moving average is $130.43 and its 200 day simple moving average is $118.53. The company 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 one year low of $65.02 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data 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 company had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.35 earnings per share. Analysts predict that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

Insiders Place Their Bets

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 in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 value of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic 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 transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. 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 currently owned by company insiders.

Analyst Upgrades and Downgrades

CRUS has been the topic of several research analyst reports. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Susquehanna increased their target price on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Barclays downgraded 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 research report on Thursday. Finally, KeyCorp lifted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

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.