Vise Technologies Inc. Invests $887,000 in Cirrus Logic, Inc. $CRUS

Vise Technologies Inc. acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,970 shares of the semiconductor company’s stock, valued at approximately $887,000.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in Cirrus Logic during the 2nd quarter valued at $840,638,000. Norges Bank bought a new position in shares of Cirrus Logic in the fourth quarter worth $69,674,000. Bank of New York Mellon Corp acquired a new position in shares of Cirrus Logic during the second quarter valued at $55,562,000. Invesco Ltd. increased its holdings in shares of Cirrus Logic by 133.6% during the fourth quarter. Invesco Ltd. now owns 642,501 shares of the semiconductor company’s stock valued at $76,136,000 after purchasing an additional 367,488 shares during the period. Finally, Defiance ETFs LLC acquired a new position in shares of Cirrus Logic during the fourth quarter valued at $38,050,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $115.33 on Monday. Cirrus Logic, Inc. has a twelve month low of $109.88 and a twelve month high of $180.42. The firm has a 50-day moving average of $139.15 and a two-hundred day moving average of $148.47. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 14.12 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The business had revenue of $459.72 million for the quarter, compared to the consensus estimate of $460.32 million. During the same period in the previous year, the firm earned $1.51 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, research analysts predict that Cirrus Logic, Inc. will post 7.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Zacks Research downgraded shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. KeyCorp decreased their price objective on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Finally, Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $150.71.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction on Monday, July 20th. The stock was sold at an average price of $138.57, for a total value of $161,572.62. Following the transaction, the executive vice president directly owned 15,239 shares in the company, valued at $2,111,668.23. The trade was a 7.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the business’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 sale, the executive vice president directly owned 31,048 shares in the company, valued at $5,589,881.92. This trade represents a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 15,465 shares of company stock worth $2,399,169. Insiders own 1.20% 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.