Pacer Advisors Inc. Boosts Stake in Cirrus Logic, Inc. $CRUS

Pacer Advisors Inc. increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 127.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 421,426 shares of the semiconductor company’s stock after acquiring an additional 236,501 shares during the period. Pacer Advisors Inc. owned approximately 0.83% of Cirrus Logic worth $49,939,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth $33,000. Torren Management LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $35,000. Kestra Advisory Services LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $36,000. CIBC Private Wealth Group LLC boosted its holdings in Cirrus Logic by 29.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after buying an additional 88 shares in the last quarter. Finally, 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 buying an additional 232 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $165.29 on Friday. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 21.08 and a beta of 1.15. Cirrus Logic, Inc. has a 52 week low of $92.02 and a 52 week high of $180.42. The company’s 50-day moving average price is $166.69 and its 200 day moving average price is $144.20.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The company had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same quarter in the previous year, the business posted $1.67 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, research analysts expect that Cirrus Logic, Inc. will post 8.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on CRUS shares. KeyCorp increased their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research note on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $161.71.

Insider Buying and Selling at Cirrus Logic

In related news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total transaction of $159,000.00. Following the completion of the transaction, the director directly owned 20,531 shares in the company, valued at $3,264,429. The trade was a 4.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Forsyth sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the completion of the sale, the chief executive officer directly owned 70,016 shares in the company, valued at approximately $11,931,426.56. The trade was a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 23,149 shares of company stock worth $3,828,401. 1.20% of the stock is currently owned by insiders.

Cirrus Logic 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.