Linden Thomas Advisory Services LLC Increases Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Linden Thomas Advisory Services LLC lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,673 shares of the semiconductor company’s stock after buying an additional 363 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Cirrus Logic were worth $1,470,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRUS. Venturi Wealth Management LLC boosted its stake in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after purchasing an additional 300 shares during the period. DekaBank Deutsche Girozentrale purchased a new position in Cirrus Logic during the 3rd quarter worth approximately $62,000. Covestor Ltd increased its position in Cirrus Logic by 13.2% during the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after buying an additional 174 shares during the period. Finally, Impact Partnership Wealth LLC purchased a new stake in Cirrus Logic in the third quarter valued at approximately $116,000. 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 research reports. Barclays upped their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday. Susquehanna raised their price target on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Stifel Nicolaus boosted their price target on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, TD Cowen increased their price objective on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $96.43.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $2.29 during mid-day trading on Wednesday, reaching $86.54. The stock had a trading volume of 206,497 shares, compared to its average volume of 413,139. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $95.87. The business has a 50 day simple moving average of $90.22 and a 200 day simple moving average of $81.94. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 27.27 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

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 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 digital signal processing; boosted amplifiers; 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.