Raymond James & Associates Boosts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James & Associates raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 48.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,459 shares of the semiconductor company's stock after buying an additional 10,919 shares during the period. Raymond James & Associates owned about 0.06% of Cirrus Logic worth $4,156,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Cirrus Logic during the third quarter valued at approximately $31,000. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock valued at $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after buying an additional 210 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of Cirrus Logic during the second quarter valued at approximately $77,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Cirrus Logic by 52.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company's stock valued at $123,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the business's stock in a transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Andrew Brannan sold 4,350 shares of the business's 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 sale, the vice president now directly owns 4,004 shares of the company's stock, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the company's stock in a transaction 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 completion of the sale, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company's stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $0.48 during trading hours on Friday, reaching $110.30. The company's stock had a trading volume of 695,986 shares, compared to its average volume of 586,572. The company has a market capitalization of $5.89 billion, a P/E ratio of 20.39 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $65.08 and a 12 month high of $147.46. The stock has a 50 day moving average price of $126.31 and a two-hundred day moving average price of $121.64.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business's quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. As a group, analysts predict that Cirrus Logic, Inc. will post 5.37 EPS for the current fiscal year.

Analyst Ratings Changes

CRUS has been the subject of a number of research reports. Susquehanna lowered their price target on Cirrus Logic from $175.00 to $160.00 and set a "positive" rating for the company in a report on Monday, October 21st. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Barclays lowered Cirrus Logic from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $140.00 to $120.00 in a report on Thursday, October 10th. Stifel Nicolaus boosted their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a "buy" rating in a report on Thursday, July 18th. Finally, StockNews.com lowered Cirrus Logic from a "strong-buy" rating to a "buy" rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Cirrus Logic presently has a consensus rating of "Moderate Buy" and an average price target of $145.00.

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.