Fideuram Intesa Sanpaolo Private Banking S.P.A. Raises Stock Holdings in Cirrus Logic, Inc. $CRUS

Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 469,333.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,166 shares of the semiconductor company’s stock after buying an additional 28,160 shares during the quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.06% of Cirrus Logic worth $4,073,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Mach 1 Financial Group LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $736,000. LSV Asset Management increased its stake in shares of Cirrus Logic by 1.0% in the fourth quarter. LSV Asset Management now owns 2,356,245 shares of the semiconductor company’s stock worth $279,215,000 after purchasing an additional 23,703 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Cirrus Logic by 9.8% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 129,880 shares of the semiconductor company’s stock valued at $15,391,000 after purchasing an additional 11,607 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Cirrus Logic by 2,574.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 67,791 shares of the semiconductor company’s stock valued at $8,033,000 after purchasing an additional 65,256 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Cirrus Logic during the 4th quarter valued at $888,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total transaction of $658,485.78. Following the completion of the transaction, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $2,962,090.50. This represents a 18.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Forsyth sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.41, for a total value of $852,050.00. Following the transaction, the chief executive officer owned 70,016 shares of the company’s stock, valued at $11,931,426.56. This represents a 6.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 32,241 shares of company stock valued at $5,173,460. 1.20% of the stock is owned by corporate insiders.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $146.24 on Friday. The firm has a market cap of $7.38 billion, a price-to-earnings ratio of 18.65 and a beta of 1.17. The firm has a fifty day moving average price of $164.19 and a 200 day moving average price of $146.19. Cirrus Logic, Inc. has a fifty-two week low of $92.02 and a fifty-two week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.19. The company had revenue of $448.52 million for the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. Cirrus Logic’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.67 EPS. As a group, research analysts predict that Cirrus Logic, Inc. will post 8.05 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CRUS shares. Barclays upped their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a report on Thursday, May 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. KeyCorp boosted their price objective on Cirrus Logic from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, May 7th. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Finally, Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a research report on Thursday, May 7th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $161.71.

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.