Burney Co. Has $16.29 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Burney Co. lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 41.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,042 shares of the semiconductor company’s stock after buying an additional 38,267 shares during the quarter. Burney Co. owned about 0.25% of Cirrus Logic worth $16,293,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. AQR Capital Management LLC raised its holdings in Cirrus Logic by 131.5% in the 1st quarter. AQR Capital Management LLC now owns 1,063,813 shares of the semiconductor company’s stock worth $103,456,000 after acquiring an additional 604,337 shares during the period. Sei Investments Co. grew its position in shares of Cirrus Logic by 4.6% in the second quarter. Sei Investments Co. now owns 906,577 shares of the semiconductor company’s stock valued at $94,517,000 after purchasing an additional 40,149 shares during the last quarter. Norges Bank acquired a new stake in shares of Cirrus Logic in the second quarter valued at about $68,744,000. DNB Asset Management AS increased its stake in shares of Cirrus Logic by 124.1% in the second quarter. DNB Asset Management AS now owns 504,474 shares of the semiconductor company’s stock worth $52,594,000 after purchasing an additional 279,398 shares during the period. Finally, Qube Research & Technologies Ltd lifted its position in shares of Cirrus Logic by 11.9% during the 2nd quarter. Qube Research & Technologies Ltd now owns 497,639 shares of the semiconductor company’s stock worth $51,881,000 after purchasing an additional 52,774 shares during the last quarter. 87.96% of the stock is owned by institutional investors.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 734 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $131.25, for a total value of $96,337.50. Following the sale, the executive vice president directly owned 26,307 shares in the company, valued at $3,452,793.75. This represents a 2.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $119.06, for a total value of $1,061,181.78. Following the transaction, the executive vice president owned 5,950 shares of the company’s stock, valued at $708,407. This represents a 59.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of research analyst reports. KeyCorp raised their target price on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, November 5th. Wall Street Zen lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

Cirrus Logic Price Performance

CRUS opened at $120.87 on Friday. The company has a market capitalization of $6.17 billion, a P/E ratio of 17.17 and a beta of 1.08. The firm’s fifty day moving average price is $122.97 and its two-hundred day moving average price is $115.85. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, November 4th. The semiconductor company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. The company had revenue of $560.96 million during the quarter, compared to the consensus estimate of $540.45 million. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period last year, the firm earned $2.25 EPS. On average, equities research analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.