Interchange Capital Partners LLC Buys 4,051 Shares of Cirrus Logic, Inc. $CRUS

Interchange Capital Partners LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 173.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,392 shares of the semiconductor company’s stock after buying an additional 4,051 shares during the period. Interchange Capital Partners LLC’s holdings in Cirrus Logic were worth $757,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic in the 4th quarter valued at about $33,000. Torren Management LLC bought a new position in Cirrus Logic in the 4th quarter valued at about $35,000. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the 3rd quarter valued at about $46,000. Geneos Wealth Management Inc. increased its holdings in Cirrus Logic by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 232 shares during the period. Finally, Rothschild Investment LLC bought a new position in Cirrus Logic in the 3rd quarter valued at about $48,000. 87.96% of the stock is owned by institutional investors.

Insider Activity

In other Cirrus Logic news, EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the sale, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,866,223.23. The trade was a 24.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the sale, the chief executive officer directly owned 50,723 shares in the company, valued at $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 37,987 shares of company stock worth $5,427,114. Corporate insiders own 1.16% of the company’s stock.

Cirrus Logic Trading Down 4.8%

CRUS opened at $162.51 on Wednesday. The company’s 50 day moving average is $147.77 and its 200-day moving average is $133.29. Cirrus Logic, Inc. has a 1-year low of $91.32 and a 1-year high of $175.77. The company has a market cap of $8.29 billion, a P/E ratio of 21.41 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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. 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 for the quarter, compared to the consensus estimate of $531.43 million. During the same period last year, the company posted $2.51 EPS. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities analysts forecast that Cirrus Logic, Inc. will post 7.76 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on CRUS. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $163.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Benchmark raised their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. KeyCorp raised their target price on shares of Cirrus Logic from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Finally, Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a report on Monday. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $152.14.

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.