Signaturefd LLC Purchases 163 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Signaturefd LLC boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 999 shares of the semiconductor company’s stock after acquiring an additional 163 shares during the period. Signaturefd LLC’s holdings in Cirrus Logic were worth $128,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Cirrus Logic in the second quarter worth $2,955,000. Innealta Capital LLC purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth about $192,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Cirrus Logic by 6.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,242 shares of the semiconductor company’s stock valued at $1,435,000 after purchasing an additional 646 shares in the last quarter. Arkadios Wealth Advisors raised its stake in Cirrus Logic by 2.8% in the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock worth $563,000 after buying an additional 119 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Cirrus Logic by 35.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 61,566 shares of the semiconductor company’s stock worth $7,860,000 after buying an additional 16,006 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CRUS. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Susquehanna upped their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. 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. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus raised their target price 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. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insiders Place Their Bets

In other news, SVP Scott Thomas sold 11,706 shares of the firm’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 sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic 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 sale, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Scott Thomas sold 11,706 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the transaction, the senior vice president now directly owns 23,975 shares in the company, valued at approximately $2,894,262. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,259 shares of company stock valued at $3,348,759. 1.02% of the stock is owned by insiders.

Cirrus Logic Stock Down 5.6 %

Shares of NASDAQ CRUS opened at $137.47 on Wednesday. The firm has a market cap of $7.35 billion, a P/E ratio of 27.88 and a beta of 0.94. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $147.46. The company has a 50 day moving average of $133.93 and a 200 day moving average of $111.96.

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