Twin Capital Management Inc. Makes New Investment in Cirrus Logic, Inc. $CRUS

Twin Capital Management Inc. acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 9,124 shares of the semiconductor company’s stock, valued at approximately $1,320,000.

Several other institutional investors have also modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter valued at about $33,000. Torren Management LLC acquired a new stake in Cirrus Logic in the 4th quarter worth about $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cirrus Logic in the 4th quarter worth about $36,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.2%

Shares of NASDAQ CRUS opened at $139.07 on Thursday. The stock has a market cap of $7.02 billion, a PE ratio of 17.74 and a beta of 1.17. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42. The company has a 50-day moving average of $160.71 and a 200 day moving average of $147.76.

Cirrus Logic (NASDAQ:CRUS) last released its 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 analyst estimates of $442.25 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% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on CRUS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays increased their price objective on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a report on Thursday, May 7th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $160.29.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Justin E. Dougherty sold 2,000 shares of the business’s stock in a transaction 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 approximately $755,410.50. The trade was a 30.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 1,458 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total value of $212,824.26. Following the completion of the sale, the executive vice president owned 16,405 shares of the company’s stock, valued at approximately $2,394,637.85. The trade was a 8.16% 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. In the last 90 days, insiders have sold 22,299 shares of company stock valued at $3,581,647. 1.20% of the stock is currently owned by company insiders.

Cirrus Logic Company 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.