Y Intercept Hong Kong Ltd Raises Stake in Cirrus Logic, Inc. $CRUS

Y Intercept Hong Kong Ltd raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 71.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,461 shares of the semiconductor company’s stock after acquiring an additional 3,945 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Cirrus Logic were worth $1,185,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in shares of Cirrus Logic by 92.3% during the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock valued at $7,189,000 after purchasing an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Cirrus Logic by 24.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after buying an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Cirrus Logic by 4.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock valued at $21,372,000 after buying an additional 9,658 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Cirrus Logic in the first quarter worth about $361,000. Finally, Geneos Wealth Management Inc. lifted its stake in shares of 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 acquiring an additional 232 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Andrew Brannan sold 8,913 shares of the firm’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 sale, the executive vice president directly owned 5,950 shares in the company, valued at $708,407. This trade represents a 59.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 1.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRUS has been the subject of several analyst reports. Susquehanna increased their target price on Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a report on Wednesday, October 22nd. Barclays set a $100.00 price objective on Cirrus Logic in a research note on Thursday, January 15th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. KeyCorp lifted their target price on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.50.

Cirrus Logic Stock Up 0.1%

NASDAQ:CRUS opened at $130.34 on Friday. The firm’s fifty day simple moving average is $122.84 and its 200 day simple moving average is $119.18. The stock has a market cap of $6.65 billion, a P/E ratio of 18.51 and a beta of 1.09. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $136.92.

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