Measured Wealth Private Client Group LLC Purchases Shares of 3,662 Cirrus Logic, Inc. $CRUS

Measured Wealth Private Client Group LLC purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the first quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,662 shares of the semiconductor company’s stock, valued at approximately $530,000.

Several other institutional investors have also recently made changes to their positions in the company. Mach 1 Financial Group LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $736,000. LSV Asset Management grew its holdings in shares of Cirrus Logic by 1.0% during the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after purchasing an additional 23,703 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Cirrus Logic by 9.8% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock worth $15,391,000 after purchasing an additional 11,607 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $888,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new stake in Cirrus Logic in the fourth quarter valued at approximately $21,988,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $139.49 on Thursday. The business has a 50 day moving average of $157.51 and a 200 day moving average of $148.41. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 17.79 and a beta of 1.17. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping 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 firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. During the same period last year, the firm posted $1.67 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 7.86 EPS for the current year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Scott Thomas sold 1,300 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total transaction of $658,485.78. Following the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. The trade was a 18.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,299 shares of company stock worth $3,581,647 over the last 90 days. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. KeyCorp lowered their price objective on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a report on Thursday, May 7th. Finally, Barclays upped their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $160.29.

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.