First Trust Direct Indexing L.P. Has $234,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

First Trust Direct Indexing L.P. raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 9.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,886 shares of the semiconductor company’s stock after purchasing an additional 158 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Cirrus Logic were worth $234,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Nisa Investment Advisors LLC grew its holdings in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic during the third quarter valued at $31,000. Versant Capital Management Inc grew its stake in Cirrus Logic by 1,911.1% in the second 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 grew its stake in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic in the 2nd quarter worth about $77,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 7.1 %

NASDAQ CRUS opened at $102.79 on Wednesday. Cirrus Logic, Inc. has a 1 year low of $69.23 and a 1 year high of $147.46. The company has a fifty day simple moving average of $125.69 and a 200 day simple moving average of $122.09. The company has a market cap of $5.49 billion, a P/E ratio of 19.42 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analysts’ expectations of $520.53 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.43 earnings per share. Equities research analysts forecast that Cirrus Logic, Inc. will post 5.37 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRUS shares. Barclays reduced their price target on Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a report on Tuesday. Susquehanna decreased their target price on shares of Cirrus Logic from $160.00 to $135.00 and set a “positive” rating for the company in a research report on Tuesday. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. KeyCorp lifted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $132.00.

Insider Buying and Selling at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the company’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 completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at $544,704.16. 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 the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction dated Friday, August 9th. The shares were 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 position. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

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.