Venturi Wealth Management LLC Purchases 374 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Venturi Wealth Management LLC raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,464 shares of the semiconductor company’s stock after acquiring an additional 374 shares during the period. Venturi Wealth Management LLC’s holdings in Cirrus Logic were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Creative Planning grew its holdings in shares of Cirrus Logic by 35.7% in the third quarter. Creative Planning now owns 10,200 shares of the semiconductor company’s stock worth $1,267,000 after purchasing an additional 2,682 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Cirrus Logic by 48.4% in the third quarter. Raymond James & Associates now owns 33,459 shares of the semiconductor company’s stock worth $4,156,000 after purchasing an additional 10,919 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Cirrus Logic in the third quarter worth about $8,878,000. Arkadios Wealth Advisors grew its holdings in shares of Cirrus Logic by 43.6% in the third quarter. Arkadios Wealth Advisors now owns 6,336 shares of the semiconductor company’s stock worth $787,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Cirrus Logic by 43.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,874 shares of the semiconductor company’s stock worth $730,000 after purchasing an additional 1,770 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus cut their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Barclays upped their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $109.07 on Friday. The firm has a market cap of $5.80 billion, a PE ratio of 19.79 and a beta of 0.91. The company has a 50-day moving average of $103.00 and a 200 day moving average of $114.58. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

About Cirrus Logic

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.