Neo Ivy Capital Management Has $1.15 Million Stake in Cirrus Logic, Inc. $CRUS

Neo Ivy Capital Management increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 426.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,192 shares of the semiconductor company’s stock after buying an additional 7,447 shares during the quarter. Neo Ivy Capital Management’s holdings in Cirrus Logic were worth $1,152,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. lifted its position in shares of Cirrus Logic by 1,660.0% during the 2nd 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 during the period. Abich Financial Wealth Management LLC bought a new position in shares of Cirrus Logic in the third quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Cirrus Logic in the second quarter worth $39,000. Rothschild Investment LLC acquired a new position in Cirrus Logic in the third quarter valued at about $48,000. Finally, SJS Investment Consulting Inc. raised its stake in Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 385 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRUS. Benchmark increased their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Loop Capital cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research report on Monday, February 2nd. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Finally, Barclays upped their target price on Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.86.

Insider Transactions at Cirrus Logic

In other news, EVP Justin E. Dougherty sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the transaction, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott Thomas sold 3,239 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the sale, the executive vice president directly owned 30,393 shares in the company, valued at approximately $4,304,560.59. This trade represents a 9.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 28,045 shares of company stock worth $3,835,300. Corporate insiders own 1.16% of the company’s stock.

Cirrus Logic Trading Down 2.9%

CRUS opened at $130.37 on Friday. The company has a market cap of $6.65 billion, a P/E ratio of 17.18 and a beta of 1.12. The company’s 50 day moving average is $132.14 and its 200-day moving average is $125.32. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.51 EPS. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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.