Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,032 shares of the semiconductor company’s stock after selling 484 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cirrus Logic were worth $1,664,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CRUS. Atlas Capital Advisors LLC grew its position in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. Versant Capital Management Inc grew its position in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC grew its position in Cirrus Logic by 79.5% in 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 last quarter. 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic in the second quarter worth approximately $77,000. Finally, Signaturefd LLC grew its position in 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 buying an additional 163 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CRUS shares. StockNews.com raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. KeyCorp raised their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note 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 research note on Wednesday, July 17th. Finally, Barclays raised their price objective on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $143.33.

Cirrus Logic Trading Up 1.7 %

CRUS stock opened at $121.03 on Thursday. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $147.46. The company has a fifty day simple moving average of $131.56 and a 200 day simple moving average of $117.06. The firm has a market cap of $6.47 billion, a PE ratio of 24.55 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data 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. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. During the same quarter in the previous year, the business earned $0.35 EPS. Cirrus Logic’s quarterly revenue was up 18.0% compared to the same quarter last year. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

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.