Measured Wealth Private Client Group LLC Invests $530,000 in Cirrus Logic, Inc. $CRUS

Measured Wealth Private Client Group LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, HoldingsChannel reports. The fund bought 3,662 shares of the semiconductor company’s stock, valued at approximately $530,000.

Other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after buying an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $33,000. Torren Management LLC purchased a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $35,000. Finally, Kestra Advisory Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Justin E. Dougherty sold 2,000 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $166.50, for a total transaction of $333,000.00. Following the sale, the executive vice president owned 4,537 shares in the company, valued at approximately $755,410.50. The trade was a 30.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the sale, the executive vice president directly owned 31,048 shares in the company, valued at $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,299 shares of company stock valued at $3,581,647 in the last 90 days. Corporate insiders own 1.20% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $139.49 on Thursday. Cirrus Logic, Inc. has a 52-week low of $92.02 and a 52-week high of $180.42. The firm has a market capitalization of $7.04 billion, a P/E ratio of 17.79 and a beta of 1.17. The stock has a 50 day moving average price of $157.51 and a 200-day moving average price of $148.41.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The company had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. During the same quarter last year, the business posted $1.67 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts forecast that Cirrus Logic, Inc. will post 7.86 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays raised their price target on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a research report on Thursday, May 7th. KeyCorp decreased their price objective on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and an average price target of $160.29.

About Cirrus Logic

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.