Sanctuary Advisors LLC Purchases Shares of 7,902 Cirrus Logic, Inc. (NASDAQ:CRUS)

Sanctuary Advisors LLC bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 7,902 shares of the semiconductor company’s stock, valued at approximately $1,009,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRUS. Teachers Retirement System of The State of Kentucky grew its position in Cirrus Logic by 14.3% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 38,386 shares of the semiconductor company’s stock valued at $4,901,000 after acquiring an additional 4,817 shares during the last quarter. Aristides Capital LLC acquired a new position in shares of Cirrus Logic in the second quarter worth approximately $215,000. Northwestern Mutual Wealth Management Co. lifted its stake in Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after buying an additional 329 shares during the period. Creative Planning lifted its stake in Cirrus Logic by 31.6% in the second quarter. Creative Planning now owns 7,518 shares of the semiconductor company’s stock valued at $960,000 after buying an additional 1,807 shares during the period. Finally, Algert Global LLC increased its holdings in shares of Cirrus Logic by 7.7% during the second quarter. Algert Global LLC now owns 152,458 shares of the semiconductor company’s stock valued at $19,463,000 after acquiring an additional 10,836 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the subject of several recent research reports. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Susquehanna upped their price target on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. KeyCorp increased 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. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $140.00 to $120.00 in a research note on Thursday. Finally, Stifel Nicolaus upped their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Insider Buying and Selling at Cirrus Logic

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

Cirrus Logic Stock Performance

NASDAQ CRUS opened at $119.71 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The stock has a 50 day simple moving average of $130.43 and a two-hundred day simple moving average of $118.33. The stock has a market cap of $6.39 billion, a P/E ratio of 22.13 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 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. The company had revenue of $374.03 million during the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm’s revenue for the quarter was up 18.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

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.