1,683 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Aristides Capital LLC

Aristides Capital LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 1,683 shares of the semiconductor company’s stock, valued at approximately $215,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after purchasing an additional 128,393 shares during the period. Sei Investments Co. grew its position in shares of Cirrus Logic by 30.8% in the 4th quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock worth $54,406,000 after buying an additional 153,946 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Cirrus Logic by 307.2% during the fourth quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock valued at $58,777,000 after buying an additional 533,019 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $1,430,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Cirrus Logic by 13.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company’s stock valued at $4,446,000 after acquiring an additional 5,645 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Barclays boosted their price objective on shares of Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Susquehanna boosted their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. 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 report on Thursday, July 18th. StockNews.com upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, KeyCorp increased their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $143.33.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $119.02 on Wednesday. The company has a 50 day simple moving average of $131.56 and a two-hundred day simple moving average of $117.06. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 24.14 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data 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 return on equity of 17.42% and a net margin of 16.31%. The company had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 18.0% on a year-over-year basis. On average, analysts forecast that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated Wednesday, August 14th. The shares were 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 value 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 sale was disclosed in a document filed with the SEC, which is available through 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 shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. The disclosure for this sale can be found here. 1.02% of the stock is owned by 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.