Empowered Funds LLC Invests $26.29 Million in Cirrus Logic, Inc. $CRUS

Empowered Funds LLC bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 177,004 shares of the semiconductor company’s stock, valued at approximately $26,290,000. Empowered Funds LLC owned 0.35% of Cirrus Logic at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in shares of Cirrus Logic by 6.2% during the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock valued at $162,000 after acquiring an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 88 shares during the period. EP Wealth Advisors LLC raised its position in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares in the last quarter. Diversified Trust Co raised its position in Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock valued at $1,316,000 after purchasing an additional 102 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after buying an additional 120 shares during the period. Institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In related news, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the transaction, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $117.89, for a total value of $137,459.74. Following the completion of the transaction, the executive vice president owned 14,073 shares of the company’s stock, valued at $1,659,065.97. This trade represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 16,631 shares of company stock worth $2,536,629. Company insiders own 1.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Wall Street Zen cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays cut their target price on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of “Hold” and a consensus price target of $150.71.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $110.88 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $108.81 and a fifty-two week high of $180.42. The company has a market cap of $5.56 billion, a PE ratio of 13.57 and a beta of 1.18. The business has a 50-day simple moving average of $134.99 and a two-hundred day simple moving average of $147.78.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.81 by $0.03. The firm had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic’s revenue was up 12.9% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 7.47 earnings per share for the current fiscal year.

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.