LSV Asset Management Has $279.22 Million Position in Cirrus Logic, Inc. $CRUS

LSV Asset Management grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,356,245 shares of the semiconductor company’s stock after acquiring an additional 23,703 shares during the period. LSV Asset Management’s holdings in Cirrus Logic were worth $279,215,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRUS. Royal Bank of Canada grew its holdings in Cirrus Logic by 92.3% during the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock worth $7,189,000 after acquiring an additional 34,629 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Cirrus Logic by 24.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock worth $132,000 after acquiring an additional 263 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Cirrus Logic by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock worth $21,372,000 after acquiring an additional 9,658 shares during the period. Focus Partners Wealth acquired a new stake in shares of Cirrus Logic in the 1st quarter valued at about $361,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Cirrus Logic by 95.1% in the 1st 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 period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In related news, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the transaction, the chief executive officer owned 70,016 shares of the company’s stock, valued at approximately $11,931,426.56. This trade represents a 6.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 9,942 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the completion of the transaction, the executive vice president directly owned 30,393 shares in the company, valued at approximately $4,866,223.23. The trade was a 24.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 15,942 shares of company stock valued at $2,602,864. 1.16% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. KeyCorp raised their target price on Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays raised their target price on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a research note on Thursday, May 7th. Finally, Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a research note on Monday, February 2nd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $161.71.

Cirrus Logic Price Performance

Shares of CRUS opened at $171.17 on Friday. The stock has a 50-day moving average of $156.25 and a 200-day moving average of $137.44. The company has a market cap of $8.73 billion, a PE ratio of 21.83 and a beta of 1.16. Cirrus Logic, Inc. has a one year low of $92.02 and a one year high of $179.00.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The business had revenue of $448.52 million for the quarter, compared to analysts’ expectations of $442.26 million. During the same quarter last year, the firm earned $1.67 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. Analysts expect that Cirrus Logic, Inc. will post 8.01 EPS for the current fiscal year.

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.