414,061 Shares in Cirrus Logic, Inc. $CRUS Bought by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the second quarter, HoldingsChannel reports. The fund bought 414,061 shares of the semiconductor company’s stock, valued at approximately $61,500,000.

Other large investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its holdings in shares of Cirrus Logic by 6.2% in the 4th quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 80 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after purchasing an additional 88 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after buying an additional 95 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock valued at $1,316,000 after buying an additional 102 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRUS. Stifel Nicolaus cut their target price on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research lowered shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, KeyCorp cut their price objective on shares of Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, August 6th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Cirrus Logic has a consensus rating of “Hold” and a consensus price target of $150.71.

Cirrus Logic Trading Up 0.5%

CRUS opened at $110.88 on Friday. Cirrus Logic, Inc. has a 12 month low of $108.81 and a 12 month high of $180.42. The business’s 50-day moving average price is $134.99 and its 200-day moving average price is $147.78. The company has a market cap of $5.56 billion, a P/E ratio of 13.57 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The company had revenue of $459.72 million during the quarter, compared to analysts’ expectations of $460.32 million. During the same period in the prior year, the business posted $1.51 EPS. Cirrus Logic’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts forecast that Cirrus Logic, Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 1,166 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $117.89, for a total value of $137,459.74. Following the transaction, the executive vice president owned 14,073 shares in the company, valued at approximately $1,659,065.97. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of Cirrus Logic stock in a transaction on Monday, June 29th. The stock was sold at an average price of $144.71, for a total transaction of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares in the company, valued at approximately $1,042,346.13. The trade was a 47.30% 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. Over the last 90 days, insiders sold 16,631 shares of company stock worth $2,536,629. 1.20% of the stock is currently owned by 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.