Cirrus Logic, Inc. $CRUS Shares Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 205.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,859 shares of the semiconductor company’s stock after buying an additional 8,653 shares during the quarter. Fox Run Management L.L.C.’s holdings in Cirrus Logic were worth $1,524,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in Cirrus Logic by 6.2% during the 4th quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after buying an additional 80 shares in the last quarter. Kendall Capital Management lifted its holdings in Cirrus Logic by 0.9% during the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after buying an additional 90 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after buying an additional 95 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Cirrus Logic by 5.0% during the 3rd quarter. Fred Alger Management LLC now owns 2,552 shares of the semiconductor company’s stock worth $320,000 after buying an additional 122 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in Cirrus Logic by 2.0% during the 2nd quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock worth $691,000 after buying an additional 129 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $165.66 on Tuesday. The company’s fifty day moving average price is $163.73 and its 200 day moving average price is $141.53. Cirrus Logic, Inc. has a 12 month low of $92.02 and a 12 month high of $180.42. The firm has a market capitalization of $8.36 billion, a P/E ratio of 21.13 and a beta of 1.15.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. During the same period last year, the business earned $1.67 EPS. Cirrus Logic’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of research reports. KeyCorp increased their target price on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Barclays raised their price objective on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $161.71.

Insider Buying and Selling

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total value of $159,000.00. Following the transaction, the director directly owned 20,531 shares in the company, valued at approximately $3,264,429. The trade was a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Forsyth sold 5,000 shares of Cirrus Logic stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.41, for a total transaction of $852,050.00. Following the completion of the transaction, the chief executive officer owned 70,016 shares in the company, valued at approximately $11,931,426.56. This represents a 6.67% 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. Insiders sold a total of 23,149 shares of company stock valued at $3,828,401 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

About Cirrus Logic

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.