3,503 Shares in Cirrus Logic, Inc. $CRUS Bought by Versor Investments LP

Versor Investments LP bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,503 shares of the semiconductor company’s stock, valued at approximately $415,000.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic during the fourth quarter worth $33,000. Torren Management LLC bought a new position in Cirrus Logic during the fourth quarter worth $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic during the third quarter worth $46,000. Rothschild Investment LLC bought a new position in Cirrus Logic during the third quarter worth $48,000. Finally, Geneos Wealth Management Inc. raised its stake in Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after buying an additional 232 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of a number of analyst reports. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research note on Monday, February 2nd. Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. KeyCorp lifted their price target on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $161.71.

Insider Transactions at Cirrus Logic

In other news, CEO John Forsyth sold 5,000 shares of Cirrus Logic stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.41, for a total transaction of $852,050.00. Following the completion of the transaction, the chief executive officer directly owned 70,016 shares in the company, valued at $11,931,426.56. This trade represents a 6.67% decrease in their ownership of the stock. The sale was disclosed in a 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 Scott Thomas sold 9,942 shares of Cirrus Logic stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the transaction, the executive vice president owned 30,393 shares of the company’s stock, valued at $4,866,223.23. This represents a 24.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.16% of the stock is owned by company insiders.

Cirrus Logic Trading Down 2.2%

CRUS opened at $162.84 on Friday. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $179.00. The company has a market cap of $8.31 billion, a P/E ratio of 20.77 and a beta of 1.16. The company has a fifty day moving average price of $152.67 and a two-hundred day moving average price of $136.15.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.26 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 earnings per share. On average, research analysts forecast that Cirrus Logic, Inc. will post 7.97 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.