Northwestern Mutual Wealth Management Co. Increases Stock Position in Cirrus Logic, Inc. $CRUS

Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2,574.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 67,791 shares of the semiconductor company’s stock after acquiring an additional 65,256 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Cirrus Logic were worth $8,033,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Kendall Capital Management lifted its holdings in Cirrus Logic by 0.9% during the fourth quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock valued at $1,256,000 after purchasing an additional 90 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Cirrus Logic by 5.0% during the third quarter. Fred Alger Management LLC now owns 2,552 shares of the semiconductor company’s stock valued at $320,000 after purchasing an additional 122 shares in the last quarter. MML Investors Services LLC lifted its holdings in Cirrus Logic by 2.0% during the second quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock valued at $691,000 after purchasing an additional 129 shares in the last quarter. Finally, Cardinal Capital Management lifted its holdings in Cirrus Logic by 0.5% during the fourth quarter. Cardinal Capital Management now owns 23,790 shares of the semiconductor company’s stock valued at $2,819,000 after purchasing an additional 130 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Transactions 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 transaction of $852,050.00. Following the completion of the sale, the chief executive officer directly owned 70,016 shares in the company, valued at approximately $11,931,426.56. This trade represents a 6.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $159.00, for a total transaction of $159,000.00. Following the sale, the director owned 20,531 shares of the company’s stock, valued at approximately $3,264,429. The trade was a 4.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 15,942 shares of company stock valued at $2,602,864. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Monday, February 2nd. KeyCorp increased their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a report on Thursday, May 7th. Benchmark increased their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.71.

Cirrus Logic Trading Up 2.7%

NASDAQ:CRUS opened at $171.17 on Friday. The company’s 50-day moving average price is $156.25 and its 200-day moving average price is $137.44. The company has a market cap of $8.73 billion, a P/E ratio of 21.83 and a beta of 1.16. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $179.00.

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

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.