Quantinno Capital Management LP Raises Stock Holdings in Cirrus Logic, Inc. $CRUS

Quantinno Capital Management LP increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942,207 shares of the semiconductor company’s stock after purchasing an additional 163,979 shares during the period. Quantinno Capital Management LP owned approximately 1.85% of Cirrus Logic worth $136,262,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Mach 1 Financial Group LLC purchased a new position in Cirrus Logic in the fourth quarter worth $736,000. LSV Asset Management boosted its holdings in shares of Cirrus Logic by 1.0% in the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after purchasing an additional 23,703 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its position in shares of Cirrus Logic by 9.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock valued at $15,391,000 after purchasing an additional 11,607 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Cirrus Logic during the 4th quarter valued at about $888,000. Finally, Arbejdsmarkedets Tillaegspension purchased a new position in shares of Cirrus Logic during the 4th quarter valued at about $21,988,000. 87.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays boosted their target price on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $197.00 price objective on shares of Cirrus Logic in a report on Thursday, May 7th. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $160.29.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $136.12 on Tuesday. Cirrus Logic, Inc. has a one year low of $92.02 and a one year high of $180.42. The business’s 50 day simple moving average is $155.92 and its two-hundred day simple moving average is $148.70. The stock has a market capitalization of $6.87 billion, a P/E ratio of 17.36 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. Sell-side analysts expect that Cirrus Logic, Inc. will post 7.86 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 1,458 shares of the business’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total value of $212,824.26. Following the transaction, the executive vice president owned 16,405 shares in the company, valued at approximately $2,394,637.85. The trade was a 8.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the transaction, the executive vice president directly owned 31,048 shares of the company’s stock, valued at approximately $5,589,881.92. This trade represents a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,299 shares of company stock worth $3,581,647 over the last ninety days. Insiders own 1.20% of the company’s stock.

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.