Inceptionr LLC Cuts Position in Cirrus Logic, Inc. $CRUS

Inceptionr LLC decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 72.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,199 shares of the semiconductor company’s stock after selling 8,330 shares during the period. Inceptionr LLC’s holdings in Cirrus Logic were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CRUS. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Cirrus Logic in the 2nd quarter worth approximately $39,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic during the 3rd quarter valued at approximately $46,000. Geneos Wealth Management Inc. raised its stake in Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 232 shares during the last quarter. Rothschild Investment LLC purchased a new position in Cirrus Logic during the third quarter valued at $48,000. Finally, SJS Investment Consulting Inc. boosted its holdings in Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock worth $50,000 after acquiring an additional 385 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Trading Up 0.9%

Shares of CRUS opened at $135.38 on Thursday. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 17.84 and a beta of 1.12. The business’s fifty day simple moving average is $133.03 and its two-hundred day simple moving average is $125.74. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.60. The firm had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.51 earnings per share. As a group, research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Buying and Selling

In related news, EVP Scott Thomas sold 3,239 shares of Cirrus Logic stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the sale, the executive vice president directly owned 30,393 shares in the company, valued at approximately $4,304,560.59. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the completion of the transaction, the chief executive officer directly owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. This trade represents a 30.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CRUS has been the topic of a number of recent research reports. Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research note on Monday, February 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Benchmark increased their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Finally, Barclays raised their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and an average target price of $146.86.

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.