Algert Global LLC Has $10.25 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Algert Global LLC boosted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,772 shares of the semiconductor company’s stock after buying an additional 11,380 shares during the period. Algert Global LLC owned approximately 0.16% of Cirrus Logic worth $10,245,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Cirrus Logic during the second quarter worth about $68,744,000. DNB Asset Management AS raised 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 last quarter. Vanguard Group Inc. raised its stake in shares of Cirrus Logic by 4.2% in the third quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock worth $829,724,000 after purchasing an additional 268,560 shares during the last quarter. Boston Partners purchased a new position in shares of Cirrus Logic during the second quarter valued at approximately $24,910,000. Finally, SG Americas Securities LLC boosted its position in shares of Cirrus Logic by 1,356.2% during the third quarter. SG Americas Securities LLC now owns 171,165 shares of the semiconductor company’s stock valued at $21,445,000 after buying an additional 159,411 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Buying and Selling

In related news, EVP Justin E. Dougherty sold 3,000 shares of the company’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 sale, the executive vice president owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. This represents a 33.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Forsyth sold 21,806 shares of the firm’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 completion of the transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 28,045 shares of company stock valued at $3,835,300. Corporate insiders own 1.16% of the company’s stock.

Cirrus Logic Trading Up 0.8%

CRUS opened at $133.71 on Monday. The company has a 50 day moving average of $133.60 and a 200 day moving average of $126.03. The company has a market cap of $6.82 billion, a PE ratio of 17.62 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 released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. Cirrus Logic’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 EPS. Research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Barclays upped their target price on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Monday, December 29th. Benchmark upped their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. 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 research report on Monday, February 2nd. Finally, Stifel Nicolaus increased their target price on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research report 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $146.86.

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.