Foster & Motley Inc. Purchases 12,486 Shares of Cirrus Logic, Inc. $CRUS

Foster & Motley Inc. grew its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 139.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,428 shares of the semiconductor company’s stock after purchasing an additional 12,486 shares during the quarter. Foster & Motley Inc.’s holdings in Cirrus Logic were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CRUS. Abich Financial Wealth Management LLC purchased a new position in shares of Cirrus Logic in the third quarter worth approximately $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cirrus Logic during the second quarter valued at approximately $39,000. Rothschild Investment LLC purchased a new stake in Cirrus Logic during the third quarter valued at approximately $48,000. SJS Investment Consulting Inc. increased its holdings in Cirrus Logic by 2,406.3% during the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock valued at $50,000 after buying an additional 385 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 232 shares during the period. Institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays lifted their price target on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday. Stifel Nicolaus lifted their target price on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Benchmark boosted their price target on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Finally, Loop Capital cut Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $146.86.

Insider Buying and Selling

In other Cirrus Logic news, EVP Scott Thomas sold 3,239 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the sale, the executive vice president owned 30,393 shares in the company, valued at approximately $4,304,560.59. This represents a 9.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Justin E. Dougherty sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares in the company, valued at approximately $841,208.16. This represents a 33.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 28,045 shares of company stock valued at $3,835,300. Company insiders own 1.16% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $144.62 on Wednesday. The company has a market capitalization of $7.38 billion, a P/E ratio of 19.05 and a beta of 1.12. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $154.90. The firm’s 50 day simple moving average is $137.71 and its two-hundred day simple moving average is $128.12.

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

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.