Great Lakes Advisors LLC raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,696 shares of the semiconductor company’s stock after purchasing an additional 181 shares during the quarter. Great Lakes Advisors LLC owned 0.11% of Cirrus Logic worth $4,755,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CRUS. Principal Financial Group Inc. lifted its stake in Cirrus Logic by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 218,691 shares of the semiconductor company’s stock worth $23,920,000 after acquiring an additional 2,697 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in shares of Cirrus Logic by 6.0% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 18,481 shares of the semiconductor company’s stock worth $2,021,000 after purchasing an additional 1,049 shares in the last quarter. Martingale Asset Management L P boosted its stake in shares of Cirrus Logic by 8.6% in the first quarter. Martingale Asset Management L P now owns 241,424 shares of the semiconductor company’s stock valued at $26,407,000 after purchasing an additional 19,191 shares during the period. Van ECK Associates Corp grew its holdings in shares of Cirrus Logic by 6.3% in the second quarter. Van ECK Associates Corp now owns 7,979 shares of the semiconductor company’s stock valued at $646,000 after purchasing an additional 470 shares in the last quarter. Finally, Altshuler Shaham Ltd purchased a new stake in Cirrus Logic during the 1st quarter worth approximately $32,000. 90.18% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
CRUS has been the subject of several research reports. Loop Capital upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and boosted their price target for the stock from $83.00 to $100.00 in a research note on Wednesday, November 1st. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Monday, November 13th. Susquehanna decreased their price objective on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a research note on Tuesday, October 24th. KeyCorp cut their target price on shares of Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Friday, November 3rd. Finally, Bank of America lifted their price target on shares of Cirrus Logic from $75.00 to $80.00 in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $98.50.
Insider Activity at Cirrus Logic
In related news, VP Andrew Brannan sold 950 shares of the business’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $80.00, for a total value of $76,000.00. Following the completion of the sale, the vice president now directly owns 6,555 shares of the company’s stock, valued at $524,400. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.
Cirrus Logic Trading Up 1.2 %
CRUS stock opened at $76.49 on Tuesday. The stock has a market cap of $4.12 billion, a P/E ratio of 30.84, a PEG ratio of 11.89 and a beta of 0.98. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $111.15. The company’s 50 day moving average is $71.42 and its two-hundred day moving average is $76.22.
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 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 digital signal processing; boosted amplifiers; 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.
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