1,697 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Bought by Moody Aldrich Partners LLC

Moody Aldrich Partners LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, Holdings Channel reports. The firm acquired 1,697 shares of the semiconductor company’s stock, valued at approximately $211,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Atlas Capital Advisors LLC increased its position in Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Diversified Trust Co increased its position in Cirrus Logic by 8.3% during the 1st quarter. Diversified Trust Co now owns 9,310 shares of the semiconductor company’s stock valued at $862,000 after buying an additional 714 shares in the last quarter. State of Michigan Retirement System increased its position in Cirrus Logic by 2.3% during the 1st quarter. State of Michigan Retirement System now owns 13,241 shares of the semiconductor company’s stock valued at $1,226,000 after buying an additional 300 shares in the last quarter. Principal Financial Group Inc. increased its position in Cirrus Logic by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 203,163 shares of the semiconductor company’s stock valued at $18,805,000 after buying an additional 5,203 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in Cirrus Logic by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 20,015 shares of the semiconductor company’s stock valued at $1,853,000 after buying an additional 5,353 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRUS has been the topic of several recent analyst reports. Stifel Nicolaus upped their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. KeyCorp increased their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna cut their price objective on Cirrus Logic from $175.00 to $160.00 and set a “positive” rating on the stock in a report on Monday. Finally, Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $140.00 to $120.00 in a report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $137.50.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Up 1.3 %

Shares of CRUS opened at $120.70 on Friday. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $147.46. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 24.48 and a beta of 0.96. The stock’s 50-day moving average price is $129.27 and its 200-day moving average price is $120.29.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.26 EPS for the current fiscal year.

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.