First Trust Advisors LP Buys 23,440 Shares of Cirrus Logic, Inc. $CRUS

First Trust Advisors LP increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 308,735 shares of the semiconductor company’s stock after buying an additional 23,440 shares during the period. First Trust Advisors LP owned 0.61% of Cirrus Logic worth $38,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Diversified Trust Co boosted its holdings 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 acquiring an additional 78 shares in the last quarter. EP Wealth Advisors LLC raised its position in shares of Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after purchasing an additional 95 shares during the period. Quadrant Capital Group LLC lifted 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 purchasing an additional 107 shares in the last quarter. MML Investors Services LLC lifted its holdings in shares of Cirrus Logic by 2.0% in the 2nd quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock worth $691,000 after purchasing an additional 129 shares in the last quarter. Finally, Stonegate Investment Group LLC grew its position in Cirrus Logic by 6.2% in the 3rd quarter. Stonegate Investment Group LLC now owns 2,298 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 134 shares during the period. 87.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Scott Thomas sold 3,239 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,304,560.59. This represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares of the company’s stock, valued at $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 28,045 shares of company stock worth $3,835,300. Insiders own 1.16% of the company’s stock.

Analyst Ratings Changes

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

Cirrus Logic Price Performance

CRUS opened at $132.59 on Friday. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 17.47 and a beta of 1.12. The firm’s fifty day moving average price is $133.32 and its two-hundred day moving average price is $125.78. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $531.43 million. During the same quarter in the prior year, the company posted $2.51 earnings per share. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current 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.