GSA Capital Partners LLP Invests $1.48 Million in Cirrus Logic, Inc. $CRUS

GSA Capital Partners LLP acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 9,942 shares of the semiconductor company’s stock, valued at approximately $1,477,000.

A number of other large investors have also made changes to their positions in CRUS. Caitong International Asset Management Co. Ltd increased its position in Cirrus Logic by 7,333.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter valued at about $33,000. Torren Management LLC purchased a new position in Cirrus Logic in the 4th quarter valued at about $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Cirrus Logic during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRUS. KeyCorp lowered their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Barclays decreased their target price on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 6th. Finally, Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $150.71.

Cirrus Logic Price Performance

CRUS opened at $121.09 on Monday. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 14.82 and a beta of 1.18. The business has a 50-day moving average of $143.70 and a two-hundred day moving average of $148.93. Cirrus Logic, Inc. has a 12 month low of $109.88 and a 12 month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The company had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.51 EPS. Equities research analysts anticipate that Cirrus Logic, Inc. will post 7.47 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the transaction, the executive vice president owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction on Monday, July 20th. The shares were sold at an average price of $138.57, for a total transaction of $161,572.62. Following the completion of the transaction, the executive vice president owned 15,239 shares in the company, valued at approximately $2,111,668.23. This trade represents a 7.11% decrease in their position. 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 18,465 shares of company stock valued at $2,891,169 in the last quarter. 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.