Blue Trust Inc. Increases Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Blue Trust Inc. increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 24.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,449 shares of the semiconductor company’s stock after acquiring an additional 1,057 shares during the period. Blue Trust Inc.’s holdings in Cirrus Logic were worth $696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRUS. Atlas Capital Advisors LLC raised 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 during the last quarter. Cardinal Capital Management lifted its position in Cirrus Logic by 19.3% during the first quarter. Cardinal Capital Management now owns 19,771 shares of the semiconductor company’s stock valued at $1,830,000 after purchasing an additional 3,195 shares during the period. Diversified Trust Co boosted its holdings in Cirrus Logic by 8.3% in the first quarter. Diversified Trust Co now owns 9,310 shares of the semiconductor company’s stock valued at $862,000 after purchasing an additional 714 shares during the last quarter. State of Michigan Retirement System grew its position in Cirrus Logic by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 13,241 shares of the semiconductor company’s stock worth $1,226,000 after purchasing an additional 300 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Cirrus Logic by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 203,163 shares of the semiconductor company’s stock valued at $18,805,000 after buying an additional 5,203 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’s 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 transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Justin E. Dougherty sold 10,203 shares of the company’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 sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred 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 transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. 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.

Analyst Ratings Changes

Several analysts recently commented on the company. Stifel Nicolaus raised their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. KeyCorp raised their price objective 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. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 9th. Barclays lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $140.00 to $120.00 in a research report on Thursday, October 10th. Finally, Susquehanna decreased their price objective on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.50.

Cirrus Logic Stock Up 0.4 %

CRUS opened at $125.28 on Tuesday. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 25.41 and a beta of 0.96. The firm’s fifty day simple moving average is $130.45 and its two-hundred day simple moving average is $119.82. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $318.41 million. During the same period in the previous year, the firm posted $0.35 EPS. Cirrus Logic’s revenue was up 18.0% compared to the same quarter last year. On average, research analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS 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.