Sterling Capital Management LLC Grows Stock Holdings in Cirrus Logic, Inc. $CRUS

Sterling Capital Management LLC grew its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 173.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 15,611 shares of the semiconductor company’s stock after buying an additional 9,898 shares during the quarter. Sterling Capital Management LLC’s holdings in Cirrus Logic were worth $2,258,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CRUS. Parallel Advisors LLC grew its stake in shares of Cirrus Logic by 6.2% in the fourth quarter. Parallel Advisors LLC now owns 1,368 shares of the semiconductor company’s stock worth $162,000 after purchasing an additional 80 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Cirrus Logic by 29.2% in the 4th quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after buying an additional 88 shares during the period. Kendall Capital Management lifted its holdings in Cirrus Logic by 0.9% in the 4th quarter. Kendall Capital Management now owns 10,600 shares of the semiconductor company’s stock worth $1,256,000 after buying an additional 90 shares during the period. EP Wealth Advisors LLC grew its position in shares of Cirrus Logic by 1.7% in the 2nd quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock worth $598,000 after buying an additional 95 shares during the last quarter. Finally, Diversified Trust Co grew its position in shares of Cirrus Logic by 1.1% in the 1st quarter. Diversified Trust Co now owns 9,097 shares of the semiconductor company’s stock worth $1,316,000 after buying an additional 102 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $146.50 on Monday. Cirrus Logic, Inc. has a 1 year low of $92.02 and a 1 year high of $180.42. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 18.69 and a beta of 1.15. The firm has a fifty day moving average price of $166.33 and a 200-day moving average price of $145.58.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.19. The company had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company earned $1.67 EPS. Equities research analysts expect that Cirrus Logic, Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total transaction of $658,485.78. Following the completion of the transaction, the executive vice president owned 17,575 shares in the company, valued at $2,962,090.50. This trade represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of Cirrus Logic stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the completion of the transaction, the executive vice president directly owned 4,537 shares of the company’s stock, valued at $755,410.50. The trade was a 30.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,319 shares of company stock worth $4,025,230 over the last three months. 1.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a report on Thursday, May 7th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday. KeyCorp increased their price target on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $161.71.

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.