Versor Investments LP purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,503 shares of the semiconductor company’s stock, valued at approximately $415,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic during the fourth quarter worth about $33,000. Torren Management LLC purchased a new position in Cirrus Logic during the fourth quarter worth about $35,000. Abich Financial Wealth Management LLC purchased a new position in Cirrus Logic during the third quarter worth about $46,000. Geneos Wealth Management Inc. boosted its holdings in Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 232 shares during the last quarter. Finally, Rothschild Investment LLC purchased a new position in Cirrus Logic during the third quarter worth about $48,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Cirrus Logic
In other Cirrus Logic news, EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares in the company, valued at $4,866,223.23. The trade was a 24.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.41, for a total transaction of $852,050.00. Following the completion of the transaction, the chief executive officer owned 70,016 shares in the company, valued at approximately $11,931,426.56. The trade was a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.16% of the stock is owned by insiders.
Analysts Set New Price Targets
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Cirrus Logic Stock Down 2.2%
CRUS opened at $162.84 on Friday. The stock has a market cap of $8.31 billion, a price-to-earnings ratio of 20.77 and a beta of 1.16. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $179.00. The company’s 50-day moving average price is $152.67 and its two-hundred day moving average price is $136.15.
Cirrus Logic (NASDAQ:CRUS – Get Free Report) last released its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. The firm had revenue of $448.52 million for the quarter, compared to analysts’ expectations of $442.26 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.67 earnings per share. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 7.97 earnings per share for the current year.
About Cirrus Logic
Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.
The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.
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