Mirae Asset Global Investments Co. Ltd. Buys Shares of 73,013 Cirrus Logic, Inc. (NASDAQ:CRUS)

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 73,013 shares of the semiconductor company's stock, valued at approximately $8,878,000. Mirae Asset Global Investments Co. Ltd. owned 0.14% of Cirrus Logic as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company's stock valued at $588,977,000 after acquiring an additional 128,393 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of Cirrus Logic by 13.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,030 shares of the semiconductor company's stock worth $4,446,000 after buying an additional 5,645 shares during the period. Susquehanna Fundamental Investments LLC grew its stake in shares of Cirrus Logic by 741.0% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,754 shares of the semiconductor company's stock valued at $3,543,000 after buying an additional 24,454 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company's stock valued at $123,000 after buying an additional 329 shares during the period. Finally, Sei Investments Co. lifted its stake in Cirrus Logic by 6.6% during the 1st quarter. Sei Investments Co. now owns 696,895 shares of the semiconductor company's stock worth $64,505,000 after acquiring an additional 42,897 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Buying and Selling

In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction 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 sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction 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 in the company, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares of the company's stock, valued at approximately $544,704.16. This trade represents 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 currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on CRUS shares. Susquehanna cut their price target on shares of Cirrus Logic from $175.00 to $160.00 and set a "positive" rating on the stock in a research note on Monday, October 21st. StockNews.com lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 9th. Barclays downgraded shares of Cirrus Logic from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. Stifel Nicolaus increased their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, July 18th. Finally, KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $137.50.

Cirrus Logic Trading Up 0.7 %

NASDAQ:CRUS traded up $0.83 during trading hours on Monday, hitting $123.05. The company's stock had a trading volume of 435,856 shares, compared to its average volume of 486,745. The stock has a fifty day moving average of $128.53 and a 200-day moving average of $121.13. The stock has a market capitalization of $6.58 billion, a P/E ratio of 24.96 and a beta of 0.96. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $374.03 million during the quarter, compared to analysts' expectations of $318.41 million. During the same quarter in the prior year, the business posted $0.35 EPS. The company's revenue for the quarter was up 18.0% on a year-over-year basis. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

Cirrus Logic Company 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.