Vontobel Holding Ltd. Buys Shares of 2,556 Cirrus Logic, Inc. (NASDAQ:CRUS)

Vontobel Holding Ltd. acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,556 shares of the semiconductor company’s stock, valued at approximately $213,000.

Several other large investors have also modified their holdings of the stock. Louisiana State Employees Retirement System purchased a new position in shares of Cirrus Logic during the 4th quarter worth about $1,256,000. Cardinal Capital Management lifted its holdings in shares of Cirrus Logic by 1.2% during the 4th quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after acquiring an additional 189 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cirrus Logic by 1.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 53,729 shares of the semiconductor company’s stock worth $4,470,000 after acquiring an additional 703 shares during the period. Allworth Financial LP lifted its holdings in shares of Cirrus Logic by 2.9% during the 4th quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock worth $624,000 after acquiring an additional 213 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s 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 completion of the sale, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock valued at $700,292 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CRUS. TD Cowen increased their target price on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Susquehanna increased their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Cirrus Logic has an average rating of “Buy” and a consensus target price of $96.43.

Cirrus Logic Stock Up 2.4 %

Shares of NASDAQ:CRUS opened at $86.29 on Thursday. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $95.87. The company has a 50 day moving average of $90.22 and a two-hundred day moving average of $81.94. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 27.39 and a beta of 1.00.

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

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.