Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 52.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 961 shares of the semiconductor company’s stock after acquiring an additional 329 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Cirrus Logic were worth $123,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Atlas Capital Advisors LLC raised its stake in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc increased its stake in Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC raised its holdings in Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after purchasing an additional 210 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic during the second quarter worth $77,000. Finally, Signaturefd LLC raised its holdings in Cirrus Logic by 19.5% during the second quarter. Signaturefd LLC now owns 999 shares of the semiconductor company’s stock worth $128,000 after purchasing an additional 163 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Up 0.0 %

Shares of NASDAQ:CRUS opened at $119.71 on Friday. The company has a market cap of $6.39 billion, a P/E ratio of 22.13 and a beta of 0.96. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $147.46. The business has a fifty day simple moving average of $130.43 and a 200-day simple moving average of $118.33.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) 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 firm had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. During the same quarter in the previous year, the business earned $0.35 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. 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 business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Cirrus Logic Company Profile

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.