Cirrus Logic, Inc. $CRUS Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1,356.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 171,165 shares of the semiconductor company’s stock after buying an additional 159,411 shares during the quarter. SG Americas Securities LLC’s holdings in Cirrus Logic were worth $21,445,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. increased its holdings in shares of Cirrus Logic by 1,660.0% during the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after acquiring an additional 249 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in Cirrus Logic during the 2nd quarter worth approximately $30,000. Ameritas Advisory Services LLC acquired a new position in Cirrus Logic during the 2nd quarter valued at approximately $31,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cirrus Logic in the second quarter worth $39,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of 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 during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 2.6%

Shares of CRUS stock opened at $122.82 on Friday. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $136.92. The stock has a market cap of $6.27 billion, a PE ratio of 17.45 and a beta of 1.09. The business has a 50-day simple moving average of $120.90 and a 200-day simple moving average of $116.88.

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

Insider Buying and Selling

In related news, EVP Scott Thomas sold 734 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $131.25, for a total transaction of $96,337.50. Following the sale, the executive vice president directly owned 26,307 shares of the company’s stock, valued at approximately $3,452,793.75. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Brannan sold 8,913 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the sale, the executive vice president owned 5,950 shares in the company, valued at approximately $708,407. This represents a 59.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.16% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Susquehanna upped their target price on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Wall Street Zen cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Barclays lifted their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. Finally, Stifel Nicolaus increased their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

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.