Truist Financial Corp Acquires 347 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Truist Financial Corp increased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,083 shares of the semiconductor company’s stock after purchasing an additional 347 shares during the quarter. Truist Financial Corp’s holdings in Cirrus Logic were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $72.16 on Tuesday. The business’s 50-day moving average is $71.39 and its 200 day moving average is $76.53. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $111.15. The firm has a market capitalization of $3.89 billion, a P/E ratio of 29.10, a P/E/G ratio of 11.44 and a beta of 0.98.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Loop Capital upgraded Cirrus Logic from a “hold” rating to a “buy” rating and upped their price target for the stock from $83.00 to $100.00 in a research report on Wednesday, November 1st. KeyCorp cut their price target on Cirrus Logic from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Susquehanna cut their price target on Cirrus Logic from $95.00 to $80.00 and set a “positive” rating for the company in a report on Tuesday, October 24th. Bank of America raised their price target on Cirrus Logic from $75.00 to $80.00 in a report on Friday, August 4th. Finally, StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday. Ten research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $98.50.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 950 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $80.00, for a total transaction of $76,000.00. Following the transaction, the vice president now directly owns 6,555 shares of the company’s stock, valued at approximately $524,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by corporate insiders.

Cirrus Logic Company Profile

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.