Cresset Asset Management LLC Has $3.48 Million Position in Cirrus Logic, Inc. $CRUS

Cresset Asset Management LLC boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 34.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,800 shares of the semiconductor company’s stock after buying an additional 7,053 shares during the period. Cresset Asset Management LLC owned approximately 0.05% of Cirrus Logic worth $3,483,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in CRUS. Picton Mahoney Asset Management boosted its stake in Cirrus Logic by 220.2% during the 3rd quarter. Picton Mahoney Asset Management now owns 7,423 shares of the semiconductor company’s stock valued at $930,000 after purchasing an additional 5,105 shares during the last quarter. Royce & Associates LP lifted its stake in Cirrus Logic by 5.1% during the 3rd quarter. Royce & Associates LP now owns 713,999 shares of the semiconductor company’s stock valued at $89,457,000 after acquiring an additional 34,839 shares in the last quarter. Brand Asset Management Group Inc. purchased a new position in Cirrus Logic during the 3rd quarter worth $272,000. Huntington National Bank grew its stake in shares of Cirrus Logic by 131.0% in the 3rd quarter. Huntington National Bank now owns 1,379 shares of the semiconductor company’s stock worth $173,000 after acquiring an additional 782 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in shares of Cirrus Logic by 9.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 16,195 shares of the semiconductor company’s stock worth $2,029,000 after acquiring an additional 1,400 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $130.37 on Friday. The stock has a market capitalization of $6.65 billion, a PE ratio of 17.18 and a beta of 1.12. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $146.88. The business’s fifty day moving average price is $132.14 and its 200-day moving average price is $125.24.

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

Insider Buying and Selling

In other Cirrus Logic news, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 50,723 shares of the company’s stock, valued at $6,855,213.45. The trade was a 30.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, the executive vice president owned 5,876 shares in the company, valued at approximately $841,208.16. This represents a 33.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 28,045 shares of company stock valued at $3,835,300. Company insiders own 1.16% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRUS. Barclays raised their price target on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an “equal weight” rating in a research report on Tuesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Wall Street Zen cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Stifel Nicolaus boosted their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, Loop Capital lowered Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price for the company. in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $146.86.

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.