Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Great Lakes Advisors LLC

Great Lakes Advisors LLC increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.3% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 58,696 shares of the semiconductor company’s stock after acquiring an additional 181 shares during the period. Great Lakes Advisors LLC’s holdings in Cirrus Logic were worth $4,755,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CRUS. Russell Investments Group Ltd. lifted its stake in shares of Cirrus Logic by 16.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 187,872 shares of the semiconductor company’s stock worth $15,220,000 after purchasing an additional 26,275 shares during the period. Cetera Advisor Networks LLC lifted its position in Cirrus Logic by 13.0% during the second quarter. Cetera Advisor Networks LLC now owns 3,456 shares of the semiconductor company’s stock worth $280,000 after buying an additional 397 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cirrus Logic by 0.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 534,202 shares of the semiconductor company’s stock worth $43,276,000 after buying an additional 3,409 shares during the last quarter. Citigroup Inc. increased its stake in shares of Cirrus Logic by 30.7% during the 2nd quarter. Citigroup Inc. now owns 27,221 shares of the semiconductor company’s stock valued at $2,205,000 after acquiring an additional 6,398 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC lifted its holdings in shares of Cirrus Logic by 104.6% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 11,355 shares of the semiconductor company’s stock worth $937,000 after acquiring an additional 5,805 shares during the period. Hedge funds and other institutional investors own 90.18% of the company’s stock.

Cirrus Logic Stock Up 1.2 %

NASDAQ CRUS opened at $76.49 on Tuesday. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $111.15. The business has a 50 day moving average price of $71.42 and a two-hundred day moving average price of $76.22. The stock has a market cap of $4.12 billion, a PE ratio of 30.84, a P/E/G ratio of 11.89 and a beta of 0.98.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 950 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $80.00, for a total value of $76,000.00. Following the transaction, the vice president now owns 6,555 shares in the company, valued at approximately $524,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.89% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on CRUS. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Susquehanna dropped their price objective on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a report on Tuesday, October 24th. Bank of America lifted their target price on Cirrus Logic from $75.00 to $80.00 in a report on Friday, August 4th. Loop Capital raised Cirrus Logic from a “hold” rating to a “buy” rating and boosted their price target for the company from $83.00 to $100.00 in a research report on Wednesday, November 1st. Finally, KeyCorp cut their price objective on Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Ten investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Cirrus Logic currently has a consensus rating of “Buy” and an average target price of $98.50.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.