Dimensional Fund Advisors LP Grows Stock Holdings in Cirrus Logic, Inc. $CRUS

Dimensional Fund Advisors LP raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,328,155 shares of the semiconductor company’s stock after purchasing an additional 83,897 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Cirrus Logic were worth $192,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mach 1 Financial Group LLC acquired a new stake in Cirrus Logic during the fourth quarter worth about $736,000. LSV Asset Management increased its holdings in Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock valued at $279,215,000 after buying an additional 23,703 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock valued at $15,391,000 after buying an additional 11,607 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Cirrus Logic in the 4th quarter valued at about $888,000. Finally, Arbejdsmarkedets Tillaegspension acquired a new stake in Cirrus Logic in the fourth quarter valued at approximately $21,988,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the transaction, the executive vice president directly owned 31,048 shares in the company, valued at $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the transaction, the chief executive officer owned 70,016 shares of the company’s stock, valued at $11,931,426.56. This trade represents a 6.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,299 shares of company stock worth $3,581,647 in the last three months. 1.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CRUS has been the subject of several research analyst reports. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays increased their target price on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a report on Thursday, May 7th. KeyCorp lowered their price target on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Five investment 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.29.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $133.61 on Friday. The company has a 50 day simple moving average of $156.41 and a 200-day simple moving average of $148.40. The company has a market capitalization of $6.74 billion, a P/E ratio of 17.04 and a beta of 1.17. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating the consensus estimate of $1.76 by $0.19. The business had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.67 EPS. As a group, research analysts expect that Cirrus Logic, Inc. will post 7.86 EPS for the current year.

About Cirrus Logic

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.