Hillsdale Investment Management Inc. Has $4.20 Million Holdings in Cirrus Logic, Inc. $CRUS

Hillsdale Investment Management Inc. boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 286.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,470 shares of the semiconductor company’s stock after acquiring an additional 26,300 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Cirrus Logic were worth $4,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CRUS. Royal Bank of Canada boosted its position in Cirrus Logic by 92.3% during the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock worth $7,189,000 after acquiring an additional 34,629 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Cirrus Logic by 24.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Cirrus Logic by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock valued at $21,372,000 after buying an additional 9,658 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Cirrus Logic during the 1st quarter valued at about $361,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 232 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $169.95 on Monday. The stock’s 50 day simple moving average is $160.17 and its 200 day simple moving average is $139.34. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $180.42. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 21.68 and a beta of 1.15.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.26 million. During the same period last year, the business earned $1.67 EPS. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, analysts forecast that Cirrus Logic, Inc. will post 8.01 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Justin E. Dougherty sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total value of $333,000.00. Following the transaction, the executive vice president directly owned 4,537 shares of the company’s stock, valued at approximately $755,410.50. This trade represents a 30.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the completion of the transaction, the chief executive officer directly owned 70,016 shares in the company, valued at $11,931,426.56. The trade was a 6.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,942 shares of company stock valued at $2,935,864 over the last 90 days. 1.16% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CRUS shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, February 2nd. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Benchmark lifted their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Barclays lifted their price target on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $161.71.

Cirrus Logic 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.