Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Raymond James & Associates

Raymond James & Associates increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 67.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 22,540 shares of the semiconductor company’s stock after acquiring an additional 9,075 shares during the period. Raymond James & Associates’ holdings in Cirrus Logic were worth $2,877,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CRUS. Norges Bank acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at about $51,890,000. Balyasny Asset Management L.P. boosted its holdings in Cirrus Logic by 307.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock worth $58,777,000 after buying an additional 533,019 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Cirrus Logic in the 4th quarter worth about $27,072,000. Acadian Asset Management LLC boosted its holdings in Cirrus Logic by 68.6% in the 1st quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock worth $42,619,000 after buying an additional 187,438 shares during the last quarter. Finally, DNB Asset Management AS acquired a new stake in Cirrus Logic in the 2nd quarter worth about $23,250,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 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 in the company, valued at $544,704.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 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 in the company, valued at $544,704.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. 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 90 days. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Barclays lifted their price target on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. TD Cowen lifted their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, KeyCorp lifted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $145.69 on Monday. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The firm has a 50 day moving average price of $133.26 and a 200 day moving average price of $111.25. The company has a market capitalization of $7.79 billion, a PE ratio of 29.55 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.19 earnings per share for the current year.

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.