Caprock Group LLC Makes New $2.08 Million Investment in Cirrus Logic, Inc. $CRUS

Caprock Group LLC purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, according to its most recent filing with the SEC. The fund purchased 18,218 shares of the semiconductor company’s stock, valued at approximately $2,080,000.

Several other large investors have also recently added to or reduced their stakes in CRUS. Hantz Financial Services Inc. increased its stake in Cirrus Logic by 1,660.0% during the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 249 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Cirrus Logic in the 2nd quarter valued at about $39,000. Geneos Wealth Management Inc. grew its position in shares of Cirrus Logic by 95.1% during 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 last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of Cirrus Logic during the 2nd quarter worth approximately $49,000. Finally, SJS Investment Consulting Inc. lifted its holdings in shares of Cirrus Logic by 2,406.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock worth $50,000 after purchasing an additional 385 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Stifel Nicolaus increased their target price on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. 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 report on Wednesday, November 5th. Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Finally, Williams Trading set a $150.00 price target on shares of Cirrus Logic in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.43.

Cirrus Logic Trading Up 1.8%

Cirrus Logic stock opened at $144.63 on Friday. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $146.88. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 19.06 and a beta of 1.12. The company’s 50-day moving average price is $126.42 and its two-hundred day moving average price is $121.52.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The business had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. During the same period last year, the firm posted $2.51 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. Research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Justin E. Dougherty sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the transaction, the executive vice president owned 5,876 shares of the company’s stock, valued at $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the transaction, the chief executive officer directly owned 50,723 shares in the company, valued at approximately $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 ninety days, insiders have sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is owned by company insiders.

About Cirrus Logic

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.