Stonegate Investment Group LLC Purchases 90 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Stonegate Investment Group LLC lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776 shares of the semiconductor company’s stock after acquiring an additional 90 shares during the quarter. Stonegate Investment Group LLC’s holdings in Cirrus Logic were worth $221,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. V Square Quantitative Management LLC acquired a new position in Cirrus Logic in the third quarter worth $31,000. Atlas Capital Advisors LLC lifted its position 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 buying an additional 204 shares in the last quarter. Versant Capital Management Inc grew its holdings in Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC increased its position in Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Cirrus Logic in the second quarter worth about $77,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Cirrus Logic Trading Up 1.6 %

NASDAQ:CRUS opened at $124.83 on Friday. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 25.32 and a beta of 0.96. The business’s 50-day moving average price is $130.45 and its two-hundred day moving average price is $119.63.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results 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. The business had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. Cirrus Logic’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company posted $0.35 EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

Insider Activity

In related news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s 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 sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 stock was 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

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.