Natixis Advisors LLC Boosts Stock Holdings in Cirrus Logic, Inc. $CRUS

Natixis Advisors LLC grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 31.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,657 shares of the semiconductor company’s stock after acquiring an additional 62,391 shares during the period. Natixis Advisors LLC owned 0.51% of Cirrus Logic worth $30,888,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter worth $33,000. Torren Management LLC purchased a new stake in shares of Cirrus Logic during the fourth quarter worth $35,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth $46,000. Geneos Wealth Management Inc. lifted its position in shares of Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 232 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new stake in shares of Cirrus Logic during the third quarter worth $48,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRUS. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Friday, March 27th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays increased their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. KeyCorp increased their target price on Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Finally, Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.71.

Cirrus Logic Stock Down 1.8%

Shares of NASDAQ CRUS opened at $175.63 on Friday. The firm has a market capitalization of $8.88 billion, a P/E ratio of 22.40 and a beta of 1.15. The stock’s 50-day simple moving average is $162.97 and its two-hundred day simple moving average is $140.83. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. The business had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.26 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.67 EPS. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the transaction, the executive vice president directly owned 17,575 shares in the company, valued at $2,962,090.50. This represents a 18.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the completion of the transaction, the chief executive officer directly owned 70,016 shares in the company, valued at approximately $11,931,426.56. This represents a 6.67% 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. Over the last three months, insiders sold 23,149 shares of company stock worth $3,828,401. 1.16% of the stock is owned by corporate 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.