Ritholtz Wealth Management Raises Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Ritholtz Wealth Management lifted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 41.8% during the third quarter, HoldingsChannel.com reports. The fund owned 3,772 shares of the semiconductor company’s stock after purchasing an additional 1,112 shares during the quarter. Ritholtz Wealth Management’s holdings in Cirrus Logic were worth $469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the business. Atlas Capital Advisors LLC boosted its stake in 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 purchasing an additional 204 shares during the period. Versant Capital Management Inc boosted its stake in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 210 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of Cirrus Logic during the second quarter worth about $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 329 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $122.53 on Thursday. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $147.46. The company has a market cap of $6.55 billion, a P/E ratio of 24.85 and a beta of 0.96. The business has a fifty day moving average of $130.79 and a two-hundred day moving average of $119.18.

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

Insider Buying and Selling

In related 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 value 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic 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 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. Insiders own 1.02% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the topic of several analyst reports. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Susquehanna upped their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. Barclays cut shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. Finally, KeyCorp boosted their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $140.00.

Cirrus Logic 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.