Van ECK Associates Corp Has $1.85 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Van ECK Associates Corp lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 36.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,015 shares of the semiconductor company’s stock after acquiring an additional 5,353 shares during the quarter. Van ECK Associates Corp’s holdings in Cirrus Logic were worth $1,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Venturi Wealth Management LLC increased its position in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. Cardinal Capital Management raised its stake in Cirrus Logic by 1.2% in the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock valued at $1,379,000 after buying an additional 189 shares during the period. Atlas Capital Advisors LLC lifted its position in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Cirrus Logic by 3.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,643 shares of the semiconductor company’s stock valued at $417,000 after purchasing an additional 206 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Cirrus Logic by 2.9% during the fourth quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock worth $624,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at approximately $629,628.30. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the sale, the vice president now directly owns 38,507 shares in the company, valued at $4,364,768.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at $629,628.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,706 shares of company stock worth $2,187,098. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on CRUS shares. Susquehanna lifted their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a report on Wednesday, May 8th. TD Cowen upped their target price on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. KeyCorp lifted their target price on Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Barclays raised their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

Check Out Our Latest Report on Cirrus Logic

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $129.30 on Monday. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $130.29. The firm has a 50 day moving average price of $114.52 and a two-hundred day moving average price of $96.44. The stock has a market cap of $6.91 billion, a P/E ratio of 26.23 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. Analysts predict that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal year.

About Cirrus Logic

(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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.

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

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