Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires 28,160 Shares of Cirrus Logic, Inc. $CRUS

Fideuram Intesa Sanpaolo Private Banking S.P.A. grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 469,333.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,166 shares of the semiconductor company’s stock after buying an additional 28,160 shares during the period. Fideuram Intesa Sanpaolo Private Banking S.P.A.’s holdings in Cirrus Logic were worth $4,073,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CRUS. Impact Partnership Wealth LLC lifted its holdings in shares of Cirrus Logic by 9.4% in the 1st quarter. Impact Partnership Wealth LLC now owns 4,136 shares of the semiconductor company’s stock valued at $598,000 after acquiring an additional 356 shares during the last quarter. Inspire Investing LLC grew its position in Cirrus Logic by 9.4% in the first quarter. Inspire Investing LLC now owns 16,664 shares of the semiconductor company’s stock worth $2,410,000 after acquiring an additional 1,434 shares in the last quarter. Pictet Asset Management Holding SA increased its stake in Cirrus Logic by 5.4% during the first quarter. Pictet Asset Management Holding SA now owns 7,823 shares of the semiconductor company’s stock worth $1,131,000 after acquiring an additional 400 shares during the last quarter. Sterling Capital Management LLC increased its stake in Cirrus Logic by 173.3% during the first quarter. Sterling Capital Management LLC now owns 15,611 shares of the semiconductor company’s stock worth $2,258,000 after acquiring an additional 9,898 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in Cirrus Logic during the first quarter worth approximately $443,000. 87.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Barclays raised their price target on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Finally, KeyCorp lifted their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and a consensus target price of $161.71.

Insider Transactions at Cirrus Logic

In related news, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the transaction, the executive vice president owned 31,048 shares in the company, valued at $5,589,881.92. The trade was a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares in the company, valued at $1,042,346.13. This trade represents a 47.30% 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. In the last 90 days, insiders sold 32,241 shares of company stock valued at $5,173,460. Company insiders own 1.20% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $146.24 on Friday. Cirrus Logic, Inc. has a 12 month low of $92.02 and a 12 month high of $180.42. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of 18.65 and a beta of 1.17. The firm’s 50-day moving average is $164.19 and its 200 day moving average is $146.19.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (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 business had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.25 million. During the same quarter last year, the firm earned $1.67 earnings per share. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

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.