Foster & Motley Inc. Grows Stake in Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 218.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,942 shares of the semiconductor company’s stock after purchasing an additional 6,134 shares during the quarter. Foster & Motley Inc.’s holdings in Cirrus Logic were worth $1,120,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRUS. Hantz Financial Services Inc. increased its position in 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 buying an additional 249 shares in the last quarter. RMG Wealth Management LLC purchased a new stake in shares of Cirrus Logic during the second quarter worth about $30,000. Ameritas Advisory Services LLC purchased a new stake in shares of Cirrus Logic during the second quarter worth about $31,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic during the second quarter valued at about $39,000. Finally, SJS Investment Consulting Inc. raised its position in shares of Cirrus Logic by 2,406.3% in the 3rd 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 during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of recent analyst reports. Barclays upped their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 5th. Zacks Research raised Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Stifel Nicolaus lifted their price target on Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Wall Street Zen downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Benchmark lifted their target price on Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $122.82 on Friday. The company has a 50 day moving average price of $120.90 and a 200-day moving average price of $116.88. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $136.92. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of 17.45 and a beta of 1.09.

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

Insider Transactions at Cirrus Logic

In related news, EVP Andrew Brannan sold 8,913 shares of Cirrus Logic stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president owned 5,950 shares in the company, valued at $708,407. The trade was a 59.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott Thomas sold 734 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the transaction, the executive vice president directly owned 26,307 shares of the company’s stock, valued at $3,452,793.75. The trade was a 2.71% decrease in their position. The SEC filing for this sale provides additional information. 1.16% of the stock is owned by company insiders.

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.