3,949 Shares in Cirrus Logic, Inc. (CRUS) Acquired by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,949 shares of the semiconductor company’s stock, valued at approximately $248,000.

Several other hedge funds have also recently made changes to their positions in the company. Miles Capital Inc. raised its holdings in shares of Cirrus Logic by 0.3% in the first quarter. Miles Capital Inc. now owns 3,796 shares of the semiconductor company’s stock valued at $230,000 after purchasing an additional 10 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Cirrus Logic by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after purchasing an additional 76 shares during the last quarter. Liberty Mutual Group Asset Management Inc. raised its holdings in shares of Cirrus Logic by 0.3% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 29,065 shares of the semiconductor company’s stock valued at $1,764,000 after purchasing an additional 82 shares during the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in shares of Cirrus Logic by 0.8% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 11,069 shares of the semiconductor company’s stock valued at $672,000 after purchasing an additional 89 shares during the last quarter. Finally, World Asset Management Inc raised its holdings in shares of Cirrus Logic by 2.7% in the second quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 89.15% of the company’s stock.

Several analysts have recently commented on CRUS shares. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $70.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 24th. Vetr upgraded shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price for the company in a report on Thursday, August 3rd. KeyCorp reiterated an “overweight” rating and issued a $75.00 target price on shares of Cirrus Logic in a report on Wednesday, July 12th. Zacks Investment Research downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $80.00 target price (up previously from $70.00) on shares of Cirrus Logic in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $68.59.

Shares of Cirrus Logic, Inc. (NASDAQ CRUS) opened at 57.01 on Wednesday. The stock has a market cap of $3.64 billion and a P/E ratio of 13.33. The company’s 50-day moving average is $57.94 and its 200-day moving average is $61.44. Cirrus Logic, Inc. has a 12-month low of $48.91 and a 12-month high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The business had revenue of $320.70 million during the quarter, compared to analyst estimates of $320.32 million. During the same quarter in the previous year, the firm earned $0.44 EPS. Cirrus Logic’s revenue was up 23.6% on a year-over-year basis. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post $4.74 earnings per share for the current year.

In other Cirrus Logic news, VP Randolph K. Carlson sold 53,332 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $57.10, for a total value of $3,045,257.20. Following the completion of the transaction, the vice president now owns 27,265 shares of the company’s stock, valued at approximately $1,556,831.50. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Andrew Brannan sold 21,504 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total value of $1,184,870.40. Following the completion of the transaction, the vice president now directly owns 21,504 shares of the company’s stock, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. In the last three months, insiders sold 92,313 shares of company stock valued at $5,235,918. 1.92% of the stock is owned by insiders.

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Cirrus Logic Company Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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