Natixis Advisors LLC Purchases 62,391 Shares of Cirrus Logic, Inc. $CRUS

Natixis Advisors LLC boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 31.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,657 shares of the semiconductor company’s stock after acquiring an additional 62,391 shares during the quarter. Natixis Advisors LLC’s holdings in Cirrus Logic were worth $30,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the fourth quarter valued at $33,000. Torren Management LLC bought a new position in Cirrus Logic in the fourth quarter valued at $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the third quarter valued at $46,000. Rothschild Investment LLC bought a new position in Cirrus Logic in the third quarter valued at $48,000. Finally, Geneos Wealth Management Inc. increased its stake in Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Down 1.8%

Shares of NASDAQ:CRUS opened at $175.63 on Friday. The stock has a market capitalization of $8.88 billion, a P/E ratio of 22.40 and a beta of 1.15. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42. The stock’s 50-day moving average price is $162.97 and its 200-day moving average price is $140.83.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. KeyCorp raised their price objective on Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Barclays raised their price objective on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research note on Thursday, May 7th. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Friday, March 27th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $161.71.

Insider Buying and Selling

In related news, EVP Scott Thomas sold 1,300 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the sale, the executive vice president directly owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the firm’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 completion of the sale, the executive vice president directly owned 17,575 shares in the company, valued at $2,962,090.50. The trade was a 18.19% 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 sold 23,149 shares of company stock valued at $3,828,401 over the last ninety days. Corporate insiders own 1.16% of the company’s stock.

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.