Cirrus Logic, Inc. $CRUS Shares Bought by Earnest Partners LLC

Earnest Partners LLC raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,348,710 shares of the semiconductor company’s stock after purchasing an additional 10,750 shares during the period. Earnest Partners LLC’s holdings in Cirrus Logic were worth $168,980,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CRUS. Thrivent Financial for Lutherans increased its holdings in Cirrus Logic by 102.5% in the third quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company’s stock valued at $3,175,000 after buying an additional 12,828 shares during the last quarter. Inspire Investing LLC lifted its holdings in Cirrus Logic by 186.9% during the 3rd quarter. Inspire Investing LLC now owns 13,241 shares of the semiconductor company’s stock worth $1,659,000 after buying an additional 8,625 shares during the last quarter. CWA Asset Management Group LLC acquired a new position in shares of Cirrus Logic in the 3rd quarter worth approximately $2,635,000. Bailard Inc. acquired a new position in shares of Cirrus Logic in the 2nd quarter worth approximately $542,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at approximately $2,025,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stifel Nicolaus raised their price objective on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research note on Monday, February 2nd. Benchmark increased their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Barclays raised their price target on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $146.86.

Cirrus Logic Trading Up 0.8%

Shares of NASDAQ CRUS opened at $133.71 on Friday. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $146.88. The company has a market cap of $6.82 billion, a price-to-earnings ratio of 17.62 and a beta of 1.12. The stock’s 50 day simple moving average is $133.60 and its 200 day simple moving average is $125.97.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm had revenue of $580.62 million during the quarter, compared to the consensus estimate of $531.43 million. During the same period in the prior year, the business earned $2.51 EPS. The firm’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the sale, the executive vice president directly owned 30,393 shares in the company, valued at $4,304,560.59. This trade represents a 9.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the transaction, the executive vice president directly owned 5,876 shares of the company’s stock, valued at $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 28,045 shares of company stock worth $3,835,300. Insiders own 1.16% of the company’s stock.

Cirrus Logic Company Profile

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.