AlphaQuest LLC Purchases 11,502 Shares of Cirrus Logic, Inc. $CRUS

AlphaQuest LLC increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1,258.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,416 shares of the semiconductor company’s stock after buying an additional 11,502 shares during the period. AlphaQuest LLC’s holdings in Cirrus Logic were worth $1,471,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic during the 4th quarter worth $33,000. Torren Management LLC bought a new stake in shares of Cirrus Logic during the 4th quarter worth $35,000. Abich Financial Wealth Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter worth $46,000. Geneos Wealth Management Inc. boosted its holdings 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 worth $47,000 after buying an additional 232 shares during the period. Finally, Rothschild Investment LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter worth $48,000. 87.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Scott Thomas sold 9,942 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the completion of the transaction, the executive vice president owned 30,393 shares in the company, valued at approximately $4,866,223.23. This represents a 24.65% decrease in their position. The sale was disclosed in a filing 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, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total transaction of $159,000.00. Following the completion of the transaction, the director owned 20,531 shares of the company’s stock, valued at approximately $3,264,429. This represents a 4.64% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 17,942 shares of company stock worth $2,935,864. Corporate insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Cirrus Logic from $175.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Benchmark increased their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. Finally, Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target for the company. in a report on Monday, February 2nd. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $161.71.

Cirrus Logic Price Performance

Shares of CRUS stock opened at $173.59 on Thursday. Cirrus Logic, Inc. has a one year low of $92.02 and a one year high of $180.42. The stock has a fifty day moving average price of $158.68 and a 200 day moving average price of $138.58. The stock has a market cap of $8.78 billion, a P/E ratio of 22.14 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.26 million. During the same quarter in the previous year, the company earned $1.67 earnings per share. The business’s revenue was up 5.7% compared to the same quarter last year. Equities research analysts anticipate that Cirrus Logic, Inc. will post 8.01 EPS for the current year.

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.