Foster & Motley Inc. Buys 7,944 Shares of Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 37.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,372 shares of the semiconductor company’s stock after purchasing an additional 7,944 shares during the quarter. Foster & Motley Inc.’s holdings in Cirrus Logic were worth $4,248,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in shares of Cirrus Logic by 92.3% during the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after buying an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Cirrus Logic by 24.9% in 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 stake in 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 acquiring an additional 9,658 shares in the last quarter. Focus Partners Wealth bought a new position in Cirrus Logic during the 1st quarter valued at $361,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $153.98 on Friday. The firm has a market cap of $7.77 billion, a PE ratio of 19.64 and a beta of 1.15. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42. The stock has a fifty day moving average price of $166.56 and a 200-day moving average price of $145.41.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. The company had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. KeyCorp increased their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $161.71.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value 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. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total transaction of $159,000.00. Following the transaction, the director directly owned 20,531 shares of the company’s stock, valued at $3,264,429. This represents a 4.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 24,319 shares of company stock valued at $4,025,230. Company insiders own 1.20% of the company’s stock.

Cirrus Logic Company 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.