Beverly Hills Private Wealth LLC grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) by 104.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,355 shares of the semiconductor company’s stock after purchasing an additional 5,805 shares during the period. Beverly Hills Private Wealth LLC’s holdings in Cirrus Logic were worth $937,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SNC boosted its position in Cirrus Logic by 42.3% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 28,328 shares of the semiconductor company’s stock worth $2,295,000 after acquiring an additional 8,419 shares during the last quarter. AGF Management Ltd. lifted its position in shares of Cirrus Logic by 36.3% in the second quarter. AGF Management Ltd. now owns 45,902 shares of the semiconductor company’s stock worth $3,719,000 after purchasing an additional 12,236 shares in the last quarter. Swiss National Bank boosted its holdings in Cirrus Logic by 1.3% during the second quarter. Swiss National Bank now owns 120,300 shares of the semiconductor company’s stock worth $9,746,000 after purchasing an additional 1,500 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Cirrus Logic by 7.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,711 shares of the semiconductor company’s stock valued at $2,164,000 after purchasing an additional 1,823 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Cirrus Logic by 9.7% in the 2nd quarter. California Public Employees Retirement System now owns 288,698 shares of the semiconductor company’s stock valued at $23,387,000 after buying an additional 25,483 shares during the last quarter. 90.18% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
CRUS has been the subject of a number of recent research reports. Susquehanna decreased their price objective on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a report on Tuesday, October 24th. Loop Capital upgraded Cirrus Logic from a “hold” rating to a “buy” rating and raised their price target for the company from $83.00 to $100.00 in a research note on Wednesday, November 1st. Bank of America upped their price objective on Cirrus Logic from $75.00 to $80.00 in a research note on Friday, August 4th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Monday. Finally, KeyCorp lowered their target price on shares of Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, November 3rd. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $98.50.
Insider Transactions at Cirrus Logic
In related news, VP Andrew Brannan sold 950 shares of Cirrus Logic stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $80.00, for a total transaction of $76,000.00. Following the completion of the sale, the vice president now owns 6,555 shares of the company’s stock, valued at approximately $524,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.89% of the stock is currently owned by corporate insiders.
Cirrus Logic Price Performance
CRUS stock opened at $75.01 on Wednesday. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $111.15. The stock has a market cap of $4.04 billion, a price-to-earnings ratio of 30.25, a price-to-earnings-growth ratio of 11.30 and a beta of 0.98. The company has a fifty day moving average price of $71.31 and a two-hundred day moving average price of $76.45.
About Cirrus Logic
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.
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