Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,992 shares of the semiconductor company’s stock after purchasing an additional 221 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Cirrus Logic were worth $298,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CRUS. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 200 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in Cirrus Logic by 52.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 47,695 shares of the semiconductor company’s stock worth $4,749,000 after purchasing an additional 16,393 shares in the last quarter. Alhambra Investment Management LLC purchased a new position in shares of Cirrus Logic during the fourth quarter worth $200,000. Arkadios Wealth Advisors boosted its position in shares of Cirrus Logic by 36.2% during the fourth quarter. Arkadios Wealth Advisors now owns 8,628 shares of the semiconductor company’s stock worth $859,000 after buying an additional 2,292 shares during the period. Finally, Ritholtz Wealth Management grew its stake in shares of Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after buying an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.8 %

NASDAQ CRUS opened at $103.51 on Wednesday. The business’s 50 day moving average is $102.42 and its two-hundred day moving average is $115.27. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46. The stock has a market capitalization of $5.50 billion, a price-to-earnings ratio of 18.79 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRUS. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Susquehanna lifted their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Loop Capital started coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.86.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.02% of the stock is owned by corporate insiders.

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.