Thrivent Financial for Lutherans Grows Position in Cirrus Logic, Inc. $CRUS

Thrivent Financial for Lutherans grew its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 102.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,341 shares of the semiconductor company’s stock after acquiring an additional 12,828 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cirrus Logic were worth $3,175,000 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. Diversified Trust Co increased its position in Cirrus Logic by 0.9% in the third quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock worth $1,124,000 after purchasing an additional 78 shares during the last quarter. EP Wealth Advisors LLC lifted its position in Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Cirrus Logic by 0.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the semiconductor company’s stock worth $1,564,000 after buying an additional 100 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Cirrus Logic by 3.3% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock worth $354,000 after buying an additional 107 shares during the last quarter. Finally, MML Investors Services LLC raised its position in shares of Cirrus Logic by 2.0% during the 2nd quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock valued at $691,000 after buying an additional 129 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Up 1.9%

CRUS opened at $142.78 on Monday. The business has a fifty day moving average of $124.39 and a 200 day moving average of $120.39. The stock has a market cap of $7.28 billion, a P/E ratio of 18.81 and a beta of 1.12. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $144.76.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm had revenue of $580.62 million for the quarter, compared to analysts’ expectations of $531.43 million. During the same period in the prior year, the business posted $2.51 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Susquehanna raised their price objective on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Barclays boosted their target price on Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a research report on Wednesday. Williams Trading set a $150.00 price target on Cirrus Logic in a research report on Wednesday, November 5th. Finally, Wall Street Zen lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and an average price target of $145.43.

Insider Buying and Selling

In other news, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the completion of the sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. This trade represents a 59.97% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 1.16% of the company’s stock.

Cirrus Logic 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.