1,647 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, HoldingsChannel reports. The institutional investor purchased 1,647 shares of the semiconductor company’s stock, valued at approximately $205,000.

Other large investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% during the first 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. Cardinal Capital Management increased its position in shares of Cirrus Logic by 19.3% during the first quarter. Cardinal Capital Management now owns 19,771 shares of the semiconductor company’s stock valued at $1,830,000 after purchasing an additional 3,195 shares during the period. Diversified Trust Co lifted its position in Cirrus Logic by 8.3% in the first quarter. Diversified Trust Co now owns 9,310 shares of the semiconductor company’s stock worth $862,000 after purchasing an additional 714 shares during the period. State of Michigan Retirement System boosted its stake in Cirrus Logic by 2.3% during the first quarter. State of Michigan Retirement System now owns 13,241 shares of the semiconductor company’s stock worth $1,226,000 after buying an additional 300 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Cirrus Logic by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 203,163 shares of the semiconductor company’s stock worth $18,805,000 after buying an additional 5,203 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CRUS shares. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Susquehanna raised their price target on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. Stifel Nicolaus raised their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, KeyCorp upped 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. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $140.00.

Insider Activity

In related news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction 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 sale, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the 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 sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the business’s 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 transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This 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.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $124.83 on Monday. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $147.46. The stock’s 50-day moving average is $130.45 and its 200-day moving average is $119.63. The firm has a market cap of $6.67 billion, a P/E ratio of 25.32 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $318.41 million. During the same quarter last year, the firm earned $0.35 earnings per share. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.26 EPS for the current 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.