Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Creative Planning

Creative Planning increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 31.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,518 shares of the semiconductor company’s stock after acquiring an additional 1,807 shares during the quarter. Creative Planning’s holdings in Cirrus Logic were worth $960,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of 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 acquiring an additional 344 shares in the last quarter. Atlas Capital Advisors LLC lifted its stake in shares of 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 acquiring an additional 204 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 210 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic in the second quarter worth about $77,000. Finally, Signaturefd LLC lifted its stake 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 acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRUS shares. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $140.00 to $120.00 in a report on Thursday. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Stifel Nicolaus boosted their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, Susquehanna boosted their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $140.00.

Cirrus Logic Trading Down 1.3 %

NASDAQ:CRUS opened at $119.69 on Friday. The firm has a market capitalization of $6.40 billion, a PE ratio of 24.28 and a beta of 0.96. The stock has a 50 day moving average of $130.34 and a 200-day moving average of $118.12. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (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 return on equity of 17.42% and a net margin of 16.31%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. As a group, analysts predict that Cirrus Logic, Inc. will post 5.26 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their ownership of the stock. 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.