Cwm LLC Increases Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Cwm LLC increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 75.1% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,640 shares of the semiconductor company’s stock after purchasing an additional 1,561 shares during the period. Cwm LLC’s holdings in Cirrus Logic were worth $465,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Heron Bay Capital Management boosted its stake in Cirrus Logic by 1.6% in the 1st quarter. Heron Bay Capital Management now owns 10,672 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 169 shares during the period. Atlas Capital Advisors LLC boosted its position in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during 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 during the last quarter. Quadrant Capital Group LLC boosted its position in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Cirrus Logic by 60.3% during the 1st quarter. Venturi Wealth Management LLC now owns 590 shares of the semiconductor company’s stock valued at $55,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 0.6 %

Shares of NASDAQ CRUS opened at $132.06 on Tuesday. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 26.79 and a beta of 0.94. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $142.83. The stock’s 50-day moving average is $127.78 and its 200 day moving average is $105.57.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The business’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.35 EPS. On average, analysts forecast that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, VP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the transaction, the vice president now directly owns 38,507 shares of the company’s stock, valued at approximately $4,364,768.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the transaction, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Carl Jackson Alberty sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $113.35, for a total value of $226,700.00. Following the transaction, the vice president now directly owns 38,507 shares in the company, valued at $4,364,768.45. The disclosure for this sale can be found here. Insiders have sold 14,706 shares of company stock valued at $1,755,698 in the last ninety days. Company insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

CRUS has been the subject of a number of research analyst reports. TD Cowen lifted their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. KeyCorp lifted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Barclays raised their price objective on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $143.33.

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.