Cirrus Logic, Inc. (CRUS) Position Increased by Legal & General Group Plc

Legal & General Group Plc increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 23.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,754 shares of the semiconductor company’s stock after acquiring an additional 9,560 shares during the quarter. Legal & General Group Plc owned approximately 0.08% of Cirrus Logic worth $3,188,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CRUS. Russell Investments Group Ltd. lifted its holdings in Cirrus Logic by 143.8% during the first quarter. Russell Investments Group Ltd. now owns 161,515 shares of the semiconductor company’s stock worth $9,803,000 after acquiring an additional 95,259 shares during the period. Wells Fargo & Company MN lifted its holdings in Cirrus Logic by 31.1% during the first quarter. Wells Fargo & Company MN now owns 361,876 shares of the semiconductor company’s stock worth $21,963,000 after acquiring an additional 85,851 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Cirrus Logic by 9.1% during the first quarter. Great West Life Assurance Co. Can now owns 59,536 shares of the semiconductor company’s stock worth $3,612,000 after acquiring an additional 4,953 shares during the period. First Trust Advisors LP lifted its holdings in Cirrus Logic by 5.3% during the first quarter. First Trust Advisors LP now owns 67,120 shares of the semiconductor company’s stock worth $4,074,000 after acquiring an additional 3,353 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Cirrus Logic by 14.7% during the first quarter. Advisors Asset Management Inc. now owns 18,251 shares of the semiconductor company’s stock worth $1,108,000 after acquiring an additional 2,338 shares during the period. Institutional investors and hedge funds own 89.15% of the company’s stock.

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In other news, VP Randolph K. Carlson sold 53,332 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $57.10, for a total transaction of $3,045,257.20. Following the sale, the vice president now directly owns 27,265 shares of the company’s stock, valued at $1,556,831.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Sherman sold 1,378 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $61.84, for a total transaction of $85,215.52. Following the sale, the director now directly owns 7,307 shares in the company, valued at $451,864.88. The disclosure for this sale can be found here. Insiders have sold 92,313 shares of company stock worth $5,235,918 over the last three months. Corporate insiders own 1.92% of the company’s stock.

CRUS has been the topic of a number of recent analyst reports. Stifel Nicolaus reiterated a “buy” rating on shares of Cirrus Logic in a report on Wednesday. BidaskClub downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Monday, August 7th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price (up from $70.00) on shares of Cirrus Logic in a research report on Thursday, June 1st. Finally, Craig Hallum reissued a “hold” rating on shares of Cirrus Logic in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $68.59.

Cirrus Logic, Inc. (NASDAQ CRUS) opened at 57.85 on Friday. The stock’s 50 day moving average price is $57.19 and its 200 day moving average price is $61.40. Cirrus Logic, Inc. has a 12-month low of $49.05 and a 12-month high of $71.97. The company has a market capitalization of $3.69 billion and a PE ratio of 13.53.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business had revenue of $320.70 million for the quarter, compared to analyst estimates of $320.32 million. During the same period in the previous year, the company earned $0.44 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, equities analysts anticipate that Cirrus Logic, Inc. will post $4.74 EPS for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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