Cirrus Logic, Inc. $CRUS Shares Bought by Inspire Investing LLC

Inspire Investing LLC lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 186.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 13,241 shares of the semiconductor company’s stock after buying an additional 8,625 shares during the period. Inspire Investing LLC’s holdings in Cirrus Logic were worth $1,659,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. EP Wealth Advisors LLC boosted its position in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Cirrus Logic by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company’s stock valued at $1,564,000 after buying an additional 100 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Cirrus Logic by 3.3% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock worth $354,000 after buying an additional 107 shares during the last quarter. Somerset Trust Co boosted its position in shares of Cirrus Logic by 3.5% in the 2nd quarter. Somerset Trust Co now owns 3,292 shares of the semiconductor company’s stock worth $343,000 after buying an additional 110 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in Cirrus Logic by 4.3% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,806 shares of the semiconductor company’s stock valued at $293,000 after acquiring an additional 116 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CRUS shares. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Benchmark lifted their price objective on Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. Susquehanna upped their target price on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday. Finally, Barclays boosted their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Cirrus Logic Stock Performance

CRUS stock opened at $121.52 on Friday. The company has a 50 day moving average price of $123.07 and a two-hundred day moving average price of $115.72. The stock has a market capitalization of $6.20 billion, a P/E ratio of 17.26 and a beta of 1.08. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.51. The business had revenue of $560.96 million for the quarter, compared to analysts’ expectations of $540.45 million. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.The business’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.25 earnings per share. Research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 734 shares of Cirrus Logic stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the sale, the executive vice president owned 26,307 shares in the company, valued at $3,452,793.75. The trade was a 2.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Brannan sold 8,913 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the transaction, the executive vice president directly owned 5,950 shares of the company’s stock, valued at approximately $708,407. This represents a 59.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.16% of the stock is currently owned by company insiders.

Cirrus Logic 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.