Earnest Partners LLC Purchases 39,759 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Earnest Partners LLC grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,358,140 shares of the semiconductor company’s stock after buying an additional 39,759 shares during the quarter. Earnest Partners LLC’s holdings in Cirrus Logic were worth $173,380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRUS. Atlas Capital Advisors LLC boosted its holdings in Cirrus Logic by 103.0% during the 1st 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 during the period. Versant Capital Management Inc lifted its position in shares of Cirrus Logic by 1,911.1% during the second 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 last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 210 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic during the second quarter valued at $77,000. Finally, Signaturefd LLC grew its holdings in shares of Cirrus Logic by 19.5% in the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 163 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus lifted their price objective 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. Barclays boosted their price target on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Susquehanna lifted their target price on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.33.

Insider Transactions at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 4,838 shares of the company’s stock, valued at $637,212.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Andrew Brannan sold 4,350 shares of the business’s 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 sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Cirrus Logic Trading Down 2.4 %

Shares of NASDAQ CRUS opened at $119.79 on Thursday. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $147.46. The stock’s fifty day simple moving average is $132.82 and its two-hundred day simple moving average is $116.03. The stock has a market capitalization of $6.40 billion, a PE ratio of 24.30 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 17.42% and a net margin of 16.31%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. On average, equities analysts predict that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

About Cirrus Logic

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.