22,861 Shares in Cirrus Logic, Inc. $CRUS Acquired by Ieq Capital LLC

Ieq Capital LLC bought a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the second quarter, Holdings Channel.com reports. The firm bought 22,861 shares of the semiconductor company’s stock, valued at approximately $3,396,000.

A number of other large investors have also modified their holdings of CRUS. LSV Asset Management boosted its position in Cirrus Logic by 1.0% during the 4th quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after acquiring an additional 23,703 shares during the period. Mach 1 Financial Group LLC bought a new stake in shares of Cirrus Logic during the 4th quarter worth about $736,000. Arbejdsmarkedets Tillaegspension acquired a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $21,988,000. Assenagon Asset Management S.A. increased its stake in shares of Cirrus Logic by 37.6% during the second quarter. Assenagon Asset Management S.A. now owns 213,871 shares of the semiconductor company’s stock valued at $31,766,000 after acquiring an additional 58,446 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Cirrus Logic by 2,574.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 67,791 shares of the semiconductor company’s stock worth $8,033,000 after purchasing an additional 65,256 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Down 3.2%

CRUS stock opened at $111.64 on Tuesday. The firm has a 50 day moving average of $138.06 and a two-hundred day moving average of $148.38. Cirrus Logic, Inc. has a 12 month low of $109.88 and a 12 month high of $180.42. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 13.66 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The company had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. During the same quarter in the prior year, the company posted $1.51 EPS. The firm’s revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that Cirrus Logic, Inc. will post 7.47 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other news, EVP Scott Thomas sold 1,300 shares of the business’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 owned 31,048 shares in the company, valued at approximately $5,589,881.92. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Andrew Brannan sold 6,464 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the transaction, the executive vice president directly owned 7,203 shares of the company’s stock, valued at approximately $1,042,346.13. This trade represents a 47.30% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 16,631 shares of company stock worth $2,536,629. Insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

CRUS has been the subject of several research reports. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Barclays decreased their price target on shares of Cirrus Logic from $140.00 to $130.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $150.71.

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.