Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Sei Investments Co.

Sei Investments Co. grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 17.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,052 shares of the semiconductor company’s stock after buying an additional 73,383 shares during the period. Sei Investments Co. owned 0.93% of Cirrus Logic worth $36,984,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRUS. US Bancorp DE grew its position in shares of Cirrus Logic by 12.3% during the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 188 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Cirrus Logic by 33.8% during the first quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock worth $3,140,000 after acquiring an additional 9,349 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Cirrus Logic by 10.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock worth $1,780,000 after acquiring an additional 2,051 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Cirrus Logic by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock valued at $2,759,000 after purchasing an additional 2,600 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in shares of Cirrus Logic by 1.6% in the first quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock valued at $2,546,000 after purchasing an additional 468 shares during the period. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $94.26 on Friday. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $111.15. The company has a 50 day simple moving average of $84.83 and a 200-day simple moving average of $78.57. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 29.92, a price-to-earnings-growth ratio of 16.15 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. The company had revenue of $618.98 million for the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, analysts predict that Cirrus Logic, Inc. will post 4.79 EPS for the current year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock worth $700,292 in the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. TD Cowen boosted their target price on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Susquehanna boosted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. Barclays lifted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Friday, February 9th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $96.43.

Read Our Latest Stock Analysis on CRUS

Cirrus Logic Profile

(Free Report)

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.

See Also

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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