Vise Technologies Inc. Makes New Investment in Cirrus Logic, Inc. $CRUS

Vise Technologies Inc. bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,970 shares of the semiconductor company’s stock, valued at approximately $887,000.

Other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Cirrus Logic by 6.2% in the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after buying an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Cirrus Logic by 29.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 88 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Cirrus Logic by 1.7% during the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after acquiring an additional 95 shares in the last quarter. Diversified Trust Co grew its holdings in Cirrus Logic by 1.1% during the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after acquiring an additional 102 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its position in shares of Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 120 shares during the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $115.33 on Monday. The business has a 50 day moving average of $139.15 and a two-hundred day moving average of $148.47. Cirrus Logic, Inc. has a 52 week low of $109.88 and a 52 week high of $180.42. The company has a market cap of $5.78 billion, a P/E ratio of 14.12 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.81 by $0.03. The company had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The business’s revenue was up 12.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.51 earnings per share. Analysts expect that Cirrus Logic, Inc. will post 7.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays decreased their price target on Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating for the company in a research note on Thursday, August 6th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Wall Street Zen lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, KeyCorp lowered their price target on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Cirrus Logic presently has an average rating of “Hold” and a consensus price target of $150.71.

Insider Activity at Cirrus Logic

In related news, EVP Andrew Brannan sold 6,464 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $144.71, for a total transaction of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares in the company, valued at $1,042,346.13. This represents a 47.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the stock in a transaction on 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. This represents 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 sold 15,465 shares of company stock worth $2,399,169 in the last 90 days. 1.20% of the stock is currently owned by company insiders.

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.