Cirrus Logic, Inc. $CRUS Shares Purchased by Barclays PLC

Barclays PLC lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 234.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,122 shares of the semiconductor company’s stock after buying an additional 128,362 shares during the period. Barclays PLC owned approximately 0.36% of Cirrus Logic worth $22,943,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Cirrus Logic in the second quarter valued at about $39,000. Abich Financial Wealth Management LLC purchased a new position in Cirrus Logic during the 3rd quarter valued at about $46,000. Geneos Wealth Management Inc. grew its position in Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 232 shares in the last quarter. Rothschild Investment LLC acquired a new position in Cirrus Logic in the 3rd quarter valued at about $48,000. Finally, SJS Investment Consulting Inc. boosted its stake in shares of Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 385 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In other news, EVP Justin E. Dougherty sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the transaction, the executive vice president directly owned 5,876 shares of the company’s stock, valued at $841,208.16. This trade represents a 33.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Forsyth sold 21,806 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the transaction, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders have sold 28,045 shares of company stock valued at $3,835,300 in the last quarter. 1.16% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Barclays boosted 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, March 3rd. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Benchmark raised their price objective on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective for the company. in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $146.86.

Cirrus Logic Trading Up 0.9%

NASDAQ CRUS opened at $135.38 on Thursday. The business’s 50 day moving average is $133.03 and its two-hundred day moving average is $125.74. The stock has a market capitalization of $6.91 billion, a price-to-earnings ratio of 17.84 and a beta of 1.12. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $146.88.

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

About Cirrus Logic

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.