60,066 Shares in Cirrus Logic, Inc. $CRUS Purchased by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 60,066 shares of the semiconductor company’s stock, valued at approximately $7,526,000.

A number of other large investors also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after buying an additional 34,629 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Cirrus Logic by 91.5% in the first quarter. Alliancebernstein L.P. now owns 166,076 shares of the semiconductor company’s stock valued at $16,550,000 after acquiring an additional 79,348 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Cirrus Logic in the 1st quarter worth about $629,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Cirrus Logic by 24.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after purchasing an additional 263 shares during the period. Finally, Millennium Management LLC grew its position in Cirrus Logic by 34.2% during the first quarter. Millennium Management LLC now owns 374,368 shares of the semiconductor company’s stock worth $37,308,000 after buying an additional 95,452 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

CRUS has been the topic of a number of recent research reports. Benchmark raised their price objective on Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. Stifel Nicolaus increased their price objective on shares of Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. 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. Finally, Williams Trading set a $150.00 price target on shares of Cirrus Logic in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.67.

Cirrus Logic Trading Down 2.7%

Shares of NASDAQ CRUS opened at $119.71 on Thursday. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 17.00 and a beta of 1.09. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $136.92. The stock has a 50-day moving average price of $121.10 and a two-hundred day moving average price of $116.84.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.51. The company had revenue of $560.96 million for the quarter, compared to analyst estimates of $540.45 million. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.25 EPS. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Scott Thomas sold 734 shares of the business’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $131.25, for a total transaction of $96,337.50. Following the sale, the executive vice president owned 26,307 shares in the company, valued at $3,452,793.75. The trade was a 2.71% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Andrew Brannan sold 8,913 shares of the stock in a transaction dated Friday, November 14th. The shares were 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 owned 5,950 shares of the company’s stock, valued at $708,407. This represents a 59.97% decrease in their ownership of the stock. 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.