Vontobel Holding Ltd. Makes New Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Vontobel Holding Ltd. acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,556 shares of the semiconductor company’s stock, valued at approximately $213,000.

A number of other large investors also recently added to or reduced their stakes in CRUS. CWM LLC raised its position in Cirrus Logic by 17.1% during the third quarter. CWM LLC now owns 2,084 shares of the semiconductor company’s stock worth $154,000 after acquiring an additional 305 shares during the period. AE Wealth Management LLC raised its position in shares of Cirrus Logic by 55.8% in the third quarter. AE Wealth Management LLC now owns 3,895 shares of the semiconductor company’s stock valued at $288,000 after buying an additional 1,395 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $116,000. SS&H Financial Advisors Inc. acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $274,000. Finally, Oak Thistle LLC acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $596,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of recent research reports. Barclays increased their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Finally, TD Cowen upped their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $96.43.

Insiders Place Their Bets

In other news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction that occurred on 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 owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Justin E. Dougherty sold 3,280 shares of the firm’s stock in a transaction that occurred on 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 owns 6,000 shares of the company’s stock, valued at $548,400. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock valued at $700,292 over the last 90 days. 0.89% of the stock is owned by company insiders.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $86.29 on Thursday. The firm has a market cap of $4.65 billion, a PE ratio of 27.39 and a beta of 1.00. The company has a 50-day moving average of $90.22 and a two-hundred day moving average of $81.94. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $95.87.

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

Cirrus Logic Company 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.