Vise Technologies Inc. Acquires Shares of 2,972 Cirrus Logic, Inc. (NASDAQ:CRUS)

Vise Technologies Inc. acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,972 shares of the semiconductor company’s stock, valued at approximately $252,000.

Several other large investors have also modified their holdings of CRUS. Wellington Management Group LLP boosted its holdings in shares of Cirrus Logic by 183.8% in the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after acquiring an additional 1,277,213 shares during the period. Mackenzie Financial Corp raised its stake in shares of Cirrus Logic by 40.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,340,305 shares of the semiconductor company’s stock worth $215,355,000 after purchasing an additional 668,514 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Cirrus Logic by 2.9% during the first quarter. Vanguard Group Inc. now owns 5,939,813 shares of the semiconductor company’s stock worth $503,637,000 after purchasing an additional 168,607 shares during the last quarter. LSV Asset Management raised its stake in shares of Cirrus Logic by 28.1% during the first quarter. LSV Asset Management now owns 599,446 shares of the semiconductor company’s stock worth $50,827,000 after purchasing an additional 131,527 shares during the last quarter. Finally, LMR Partners LLP raised its stake in shares of Cirrus Logic by 40.1% during the fourth quarter. LMR Partners LLP now owns 390,000 shares of the semiconductor company’s stock worth $35,888,000 after purchasing an additional 111,572 shares during the last quarter. 88.12% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Stock Up 0.1 %

Shares of CRUS stock opened at $75.01 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $67.03 and a fifty-two week high of $95.84. The stock has a market cap of $4.20 billion, a P/E ratio of 12.67, a P/E/G ratio of 5.79 and a beta of 0.99. The business has a fifty day simple moving average of $80.09 and a 200-day simple moving average of $79.14.

Cirrus Logic announced that its board has approved a share repurchase plan on Tuesday, August 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 10.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Susquehanna Bancshares cut their price target on Cirrus Logic to $110.00 in a research note on Monday, July 25th. Cowen upped their price target on Cirrus Logic to $100.00 in a research note on Tuesday, August 9th. Cowen upped their price target on Cirrus Logic from $90.00 to $100.00 in a research note on Wednesday, August 3rd. Needham & Company LLC increased their price objective on Cirrus Logic from $85.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Finally, Bank of America cut their price objective on Cirrus Logic from $85.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.60.

Insider Activity

In other news, VP Carl Jackson Alberty sold 1,823 shares of the firm’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $88.24, for a total value of $160,861.52. Following the completion of the transaction, the vice president now owns 33,014 shares in the company, valued at $2,913,155.36. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Carl Jackson Alberty sold 1,823 shares of the stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $88.24, for a total transaction of $160,861.52. Following the sale, the vice president now owns 33,014 shares of the company’s stock, valued at $2,913,155.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $84.74, for a total value of $84,740.00. Following the sale, the director now directly owns 18,875 shares in the company, valued at approximately $1,599,467.50. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Cirrus Logic Profile

(Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable 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 processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

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

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