Corient Private Wealth LLC Has $3.06 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Corient Private Wealth LLC raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 100.6% in the 4th quarter, HoldingsChannel reports. The firm owned 25,768 shares of the semiconductor company’s stock after acquiring an additional 12,923 shares during the quarter. Corient Private Wealth LLC’s holdings in Cirrus Logic were worth $3,055,000 as of its most recent SEC filing.

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

Insider Activity at Cirrus Logic

In related news, EVP Justin E. Dougherty sold 2,000 shares of Cirrus Logic stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the transaction, the executive vice president owned 4,537 shares of the company’s stock, valued at $755,410.50. The trade was a 30.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Forsyth sold 5,000 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the sale, the chief executive officer owned 70,016 shares of the company’s stock, valued at $11,931,426.56. This trade represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 24,319 shares of company stock valued at $4,025,230 over the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $146.50 on Friday. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 18.69 and a beta of 1.15. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $180.42. The firm’s 50-day simple moving average is $166.33 and its 200 day simple moving average is $145.41.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.67 EPS. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of research reports. KeyCorp raised their price objective on Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Barclays lifted their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.71.

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.