Cirrus Logic, Inc. $CRUS Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. increased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 127.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 421,426 shares of the semiconductor company’s stock after buying an additional 236,501 shares during the period. Pacer Advisors Inc.’s holdings in Cirrus Logic were worth $49,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic during the fourth quarter worth approximately $33,000. Torren Management LLC acquired a new position in Cirrus Logic in the 4th quarter valued at $35,000. Kestra Advisory Services LLC purchased a new position in shares of Cirrus Logic during the 4th quarter worth $36,000. Rothschild Investment LLC purchased a new position in shares of Cirrus Logic during the 3rd quarter worth $48,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Cirrus Logic by 29.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

CRUS has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $197.00 price objective on Cirrus Logic in a research report on Thursday, May 7th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. KeyCorp upped their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, Barclays increased their price objective on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $161.71.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total value of $658,485.78. Following the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. This trade represents a 18.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 9,942 shares of Cirrus Logic stock in a transaction 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 transaction, the executive vice president owned 30,393 shares in the company, valued at $4,866,223.23. The trade was a 24.65% decrease in their position. 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 have sold a total of 23,149 shares of company stock valued at $3,828,401 in the last three months. 1.20% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

Shares of CRUS opened at $165.29 on Friday. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $180.42. The firm has a market capitalization of $8.34 billion, a P/E ratio of 21.08 and a beta of 1.15. The stock’s fifty day simple moving average is $166.69 and its 200 day simple moving average is $144.20.

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

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.