Cirrus Logic, Inc. $CRUS Shares Bought by UBS Group AG

UBS Group AG grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.8% during the 4th quarter, Holdings Channel reports. The firm owned 396,170 shares of the semiconductor company’s stock after buying an additional 53,981 shares during the period. UBS Group AG’s holdings in Cirrus Logic were worth $46,946,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRUS. Concurrent Investment Advisors LLC acquired a new position in shares of Cirrus Logic during the 4th quarter worth approximately $305,000. Chicago Partners Investment Group LLC grew its holdings in Cirrus Logic by 14.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,628 shares of the semiconductor company’s stock valued at $971,000 after buying an additional 941 shares during the last quarter. HB Wealth Management LLC increased its position in Cirrus Logic by 17.0% during the fourth quarter. HB Wealth Management LLC now owns 1,992 shares of the semiconductor company’s stock worth $236,000 after buying an additional 289 shares in the last quarter. Caprock Group LLC increased its position in Cirrus Logic by 43.0% during the fourth quarter. Caprock Group LLC now owns 26,045 shares of the semiconductor company’s stock worth $3,086,000 after buying an additional 7,827 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Cirrus Logic by 479.0% in the fourth quarter. M&T Bank Corp now owns 11,077 shares of the semiconductor company’s stock worth $1,313,000 after acquiring an additional 9,164 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cirrus Logic

In related news, EVP Justin E. Dougherty sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott Thomas sold 9,942 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,866,223.23. This trade represents a 24.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 16,181 shares of company stock valued at $2,480,033. Corporate insiders own 1.16% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRUS shares. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays boosted their target price 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. KeyCorp upped their target price on shares of Cirrus Logic from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Finally, Benchmark lifted their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $152.14.

Cirrus Logic Stock Down 2.1%

Shares of NASDAQ:CRUS opened at $167.69 on Thursday. The company has a market cap of $8.55 billion, a P/E ratio of 22.09 and a beta of 1.16. The business has a fifty day simple moving average of $149.53 and a 200-day simple moving average of $134.50. Cirrus Logic, Inc. has a 52 week low of $91.32 and a 52 week high of $175.77.

Cirrus Logic (NASDAQ:CRUS) last released its 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 for the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.51 earnings per share. Sell-side analysts expect that Cirrus Logic, Inc. will post 7.76 earnings per share 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.