Foster & Motley Inc. Makes New $4.67 Million Investment in Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 31,452 shares of the semiconductor company’s stock, valued at approximately $4,672,000.

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

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $116.88 on Wednesday. The business’s 50 day simple moving average is $141.84 and its 200-day simple moving average is $148.76. The firm has a market capitalization of $5.86 billion, a price-to-earnings ratio of 14.31 and a beta of 1.18. 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 earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The company had revenue of $459.72 million for the quarter, compared to the consensus estimate of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.Cirrus Logic’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.51 earnings per share. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 7.47 earnings per share for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total value of $658,485.78. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at $2,962,090.50. The trade was a 18.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares in the company, valued at approximately $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 17,465 shares of company stock worth $2,732,169. Corporate insiders own 1.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CRUS shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Barclays decreased their price target on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 6th. Stifel Nicolaus cut their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. Wall Street Zen downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $150.71.

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.