TKG Advisors LLC Buys New Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

TKG Advisors LLC bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 35,314 shares of the semiconductor company's stock, valued at approximately $4,386,000. Cirrus Logic comprises 2.2% of TKG Advisors LLC's holdings, making the stock its 14th biggest position. TKG Advisors LLC owned about 0.07% of Cirrus Logic at the end of the most recent quarter.

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

Insider Activity at Cirrus Logic

In related news, 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 value of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, 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 value of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares of the company's stock, valued at approximately $637,212.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Brannan sold 4,350 shares of the company's stock in a transaction on Wednesday, August 14th. The stock was 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 of the company's stock, 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 corporate insiders.

Cirrus Logic Stock Performance

CRUS traded up $0.33 during trading on Monday, reaching $110.63. 1,141,218 shares of the company's stock were exchanged, compared to its average volume of 496,767. The company's fifty day moving average price is $126.31 and its 200-day moving average price is $121.90. Cirrus Logic, Inc. has a fifty-two week low of $69.23 and a fifty-two week high of $147.46. The firm has a market capitalization of $5.91 billion, a PE ratio of 21.01 and a beta of 0.96.

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

Analyst Ratings Changes

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

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 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.