Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 4,622 Cirrus Logic, Inc. $CRUS

by · The Markets Daily

Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) in the 3rd quarter, Holdings Channel reports. The fund acquired 4,622 shares of the semiconductor company’s stock, valued at approximately $579,000.

A number of other large investors have also recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after acquiring an additional 34,629 shares during the period. Focus Partners Advisor Solutions LLC purchased a new stake in Cirrus Logic during the 1st quarter valued at about $251,000. EP Wealth Advisors LLC increased its holdings in shares of Cirrus Logic by 69.4% in the first quarter. EP Wealth Advisors LLC now owns 5,644 shares of the semiconductor company’s stock valued at $562,000 after purchasing an additional 2,312 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Cirrus Logic by 91.5% in the first quarter. Alliancebernstein L.P. now owns 166,076 shares of the semiconductor company’s stock valued at $16,550,000 after purchasing an additional 79,348 shares during the period. Finally, Hancock Whitney Corp raised its stake in shares of Cirrus Logic by 5.5% in the first quarter. Hancock Whitney Corp now owns 7,612 shares of the semiconductor company’s stock worth $759,000 after purchasing an additional 399 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Susquehanna upped their target price on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. KeyCorp lifted their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Zacks Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Wall Street Zen cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Benchmark boosted their target price on shares of Cirrus Logic from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $141.67.

View Our Latest Stock Analysis on Cirrus Logic

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Andrew Brannan sold 8,913 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president owned 5,950 shares in the company, valued at approximately $708,407. This represents a 59.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott Thomas sold 734 shares of the firm’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $131.25, for a total value of $96,337.50. Following the sale, the executive vice president owned 26,307 shares in the company, valued at $3,452,793.75. This trade represents a 2.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.16% of the company’s stock.

Cirrus Logic Trading Up 1.0%

Cirrus Logic stock opened at $119.67 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 17.00 and a beta of 1.09. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $136.92. The stock’s 50 day simple moving average is $121.86 and its two-hundred day simple moving average is $116.50.

Cirrus Logic (NASDAQ:CRUS – Get Free Report) last posted its earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.51. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The firm had revenue of $560.96 million during the quarter, compared to analysts’ expectations of $540.45 million. During the same period in the previous year, the business posted $2.25 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic Company Profile

(Free Report)

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.

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