10,887 Shares in Cirrus Logic, Inc. $CRUS Bought by Kendall Capital Management

Kendall Capital Management purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,887 shares of the semiconductor company’s stock, valued at approximately $1,617,000.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in shares of Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after buying an additional 34,629 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Cirrus Logic by 24.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock worth $132,000 after buying an additional 263 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Cirrus Logic by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock worth $21,372,000 after buying an additional 9,658 shares during the period. Focus Partners Wealth acquired a new stake in Cirrus Logic in the first quarter valued at approximately $361,000. Finally, Geneos Wealth Management Inc. raised its holdings in Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Down 1.3%

Shares of CRUS opened at $115.33 on Friday. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 14.12 and a beta of 1.18. Cirrus Logic, Inc. has a 52-week low of $109.88 and a 52-week high of $180.42. The stock has a 50 day moving average price of $139.15 and a 200 day moving average price of $148.35.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. The company had revenue of $459.72 million for the quarter, compared to analysts’ expectations of $460.32 million. During the same quarter last year, the company earned $1.51 earnings per share. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 7.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Jeffrey W. Baumgartner sold 1,166 shares of the business’s 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 sale, the executive vice president directly owned 15,239 shares of the company’s stock, valued at approximately $2,111,668.23. This trade represents a 7.11% 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 have sold 15,465 shares of company stock worth $2,399,169 in the last ninety days. 1.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on CRUS shares. Barclays lowered their price target on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a report on Thursday, August 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, KeyCorp dropped their target price on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, August 6th. 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 stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of “Hold” and a consensus price target 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.