Venturi Wealth Management LLC Purchases 178 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Venturi Wealth Management LLC increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 93.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 368 shares of the semiconductor company’s stock after buying an additional 178 shares during the quarter. Venturi Wealth Management LLC’s holdings in Cirrus Logic were worth $31,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Oak Thistle LLC lifted its position in Cirrus Logic by 53.8% in the fourth quarter. Oak Thistle LLC now owns 12,400 shares of the semiconductor company’s stock valued at $1,032,000 after purchasing an additional 4,340 shares during the last quarter. Fifth Third Bancorp lifted its position in Cirrus Logic by 7.8% in the fourth quarter. Fifth Third Bancorp now owns 23,195 shares of the semiconductor company’s stock valued at $1,930,000 after purchasing an additional 1,686 shares during the last quarter. Denali Advisors LLC lifted its position in Cirrus Logic by 536.0% in the fourth quarter. Denali Advisors LLC now owns 2,614 shares of the semiconductor company’s stock valued at $217,000 after purchasing an additional 2,203 shares during the last quarter. Blue Trust Inc. lifted its position in Cirrus Logic by 10.0% in the fourth quarter. Blue Trust Inc. now owns 2,684 shares of the semiconductor company’s stock valued at $223,000 after purchasing an additional 243 shares during the last quarter. Finally, Ritholtz Wealth Management lifted its position in Cirrus Logic by 32.0% in the fourth quarter. Ritholtz Wealth Management now owns 4,785 shares of the semiconductor company’s stock valued at $398,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Insider Activity

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Cirrus Logic Trading Up 1.5 %

NASDAQ CRUS opened at $91.77 on Friday. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $103.90. The stock has a market cap of $4.95 billion, a P/E ratio of 29.13, a P/E/G ratio of 16.28 and a beta of 1.00. The stock’s fifty day moving average price is $89.37 and its 200-day moving average price is $80.56.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Susquehanna boosted their target price on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their target price on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. TD Cowen boosted their target price on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Barclays boosted their target price on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 21st. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $96.43.

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 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 digital signal processing; boosted amplifiers; 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.