Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 35.1% during the second quarter, HoldingsChannel reports. The firm owned 61,566 shares of the semiconductor company’s stock after purchasing an additional 16,006 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cirrus Logic were worth $7,860,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Heron Bay Capital Management lifted its holdings in Cirrus Logic by 1.6% in the 1st quarter. Heron Bay Capital Management now owns 10,672 shares of the semiconductor company’s stock worth $988,000 after buying an additional 169 shares in the last quarter. Atlas Capital Advisors LLC grew its stake in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 210 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in Cirrus Logic by 60.3% in the first quarter. Venturi Wealth Management LLC now owns 590 shares of the semiconductor company’s stock valued at $55,000 after purchasing an additional 222 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of CRUS opened at $145.69 on Friday. The stock has a market capitalization of $7.79 billion, a PE ratio of 29.55 and a beta of 0.94. The business’s fifty day moving average price is $133.26 and its 200 day moving average price is $110.95. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.35 EPS. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRUS shares. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. TD Cowen lifted their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Stifel Nicolaus upped their price target 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. Susquehanna raised their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Barclays boosted their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Scott Thomas sold 11,706 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the sale, the senior vice president now directly owns 23,975 shares in the company, valued at approximately $2,894,262. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the transaction, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated 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 directly owns 4,004 shares in the company, valued at approximately $544,704.16. The disclosure for this sale can be found here. Insiders sold a total of 26,259 shares of company stock worth $3,348,759 over the last ninety days. Company insiders own 1.02% of the company’s stock.

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.