Cirrus Logic, Inc. $CRUS Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 254.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 70,190 shares of the semiconductor company’s stock after acquiring an additional 50,402 shares during the period. SG Americas Securities LLC owned about 0.14% of Cirrus Logic worth $10,151,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after purchasing an additional 34,629 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cirrus Logic by 24.9% during the first 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 lifted its stake in Cirrus Logic by 4.7% during the first 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 shares of Cirrus Logic in the first quarter worth about $361,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 232 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Justin E. Dougherty sold 2,000 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $166.50, for a total transaction of $333,000.00. Following the transaction, the executive vice president directly owned 4,537 shares of the company’s stock, valued at $755,410.50. This represents a 30.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total value of $658,485.78. Following the transaction, the executive vice president owned 17,575 shares in the company, valued at approximately $2,962,090.50. This trade represents a 18.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 24,319 shares of company stock worth $4,025,230 over the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Down 4.9%

CRUS stock opened at $146.50 on Friday. The company has a 50 day moving average of $166.33 and a two-hundred day moving average of $145.41. The company 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 12-month low of $92.02 and a 12-month high of $180.42.

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, topping analysts’ consensus estimates of $1.76 by $0.19. The business had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. Cirrus Logic’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.67 earnings per share. On average, research analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Analysts Set New Price Targets

CRUS has been the subject of several research analyst reports. Barclays upped 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. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday. KeyCorp lifted their price target on Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research note on Thursday, May 7th. Five investment 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.71.

Cirrus Logic Profile

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.