Hanseatic Management Services Inc. Invests $863,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Hanseatic Management Services Inc. acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,949 shares of the semiconductor company's stock, valued at approximately $863,000.

Other large investors have also made changes to their positions in the company. Nisa Investment Advisors LLC raised its position in shares of Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after buying an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Cirrus Logic in the third quarter worth about $31,000. Versant Capital Management Inc raised its position in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC raised its position in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic in the second quarter worth about $77,000. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Activity

In other news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the sale, the senior vice president now directly owns 4,838 shares of the company's stock, valued at $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the firm's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now directly owns 4,838 shares of the company's stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several recent research reports. StockNews.com lowered shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research report on Wednesday. KeyCorp increased their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Susquehanna dropped their price target on shares of Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a research report on Tuesday. Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday. Finally, Barclays dropped their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $132.00.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded down $0.56 during mid-day trading on Thursday, hitting $103.55. 756,389 shares of the stock were exchanged, compared to its average volume of 507,491. The company has a market cap of $5.53 billion, a P/E ratio of 17.55 and a beta of 0.96. The stock's fifty day simple moving average is $123.31 and its two-hundred day simple moving average is $121.98. Cirrus Logic, Inc. has a twelve month low of $69.23 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.42%. The business had revenue of $541.90 million for the quarter, compared to analysts' expectations of $520.53 million. During the same period in the prior year, the firm earned $1.43 earnings per share. Cirrus Logic's revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 5.37 earnings per share for the current fiscal year.

Cirrus Logic Profile

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.