Quantbot Technologies LP Grows Stock Holdings in Cirrus Logic, Inc. $CRUS

Quantbot Technologies LP lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 77.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,646 shares of the semiconductor company’s stock after purchasing an additional 11,668 shares during the quarter. Quantbot Technologies LP owned about 0.05% of Cirrus Logic worth $2,778,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cetera Investment Advisers raised its stake in Cirrus Logic by 74.3% during the first quarter. Cetera Investment Advisers now owns 4,824 shares of the semiconductor company’s stock valued at $481,000 after buying an additional 2,057 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Cirrus Logic by 20.2% during the first quarter. LPL Financial LLC now owns 16,026 shares of the semiconductor company’s stock valued at $1,597,000 after acquiring an additional 2,698 shares in the last quarter. XTX Topco Ltd raised its position in shares of Cirrus Logic by 42.0% in the 1st quarter. XTX Topco Ltd now owns 5,031 shares of the semiconductor company’s stock worth $501,000 after purchasing an additional 1,489 shares during the last quarter. US Bancorp DE boosted its stake in Cirrus Logic by 245.8% in the 1st quarter. US Bancorp DE now owns 4,662 shares of the semiconductor company’s stock worth $465,000 after purchasing an additional 3,314 shares in the last quarter. Finally, Bank of Nova Scotia purchased a new stake in Cirrus Logic during the 1st quarter valued at about $2,188,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In related news, EVP Denise Grode sold 2,202 shares of Cirrus Logic stock in a transaction on Monday, September 15th. The stock was sold at an average price of $116.87, for a total value of $257,347.74. Following the completion of the sale, the executive vice president owned 5,698 shares of the company’s stock, valued at $665,925.26. The trade was a 27.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Scott Thomas sold 734 shares of the company’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $131.25, for a total value of $96,337.50. Following the sale, the executive vice president owned 26,307 shares of the company’s stock, valued at approximately $3,452,793.75. This trade represents a 2.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,100 shares of company stock worth $3,861,510. 1.16% of the stock is currently owned by insiders.

Cirrus Logic Stock Down 0.2%

CRUS opened at $121.88 on Friday. The stock has a market capitalization of $6.22 billion, a price-to-earnings ratio of 17.31 and a beta of 1.08. The firm has a 50 day moving average price of $123.59 and a 200-day moving average price of $113.51. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.51. The company had revenue of $560.96 million for the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the company posted $2.25 earnings per share. As a group, analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Benchmark boosted their price objective on shares of Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday. Finally, Williams Trading set a $150.00 target price on Cirrus Logic in a research note on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.67.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.