Dimensional Fund Advisors LP Acquires 83,897 Shares of Cirrus Logic, Inc. $CRUS

Dimensional Fund Advisors LP increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,328,155 shares of the semiconductor company’s stock after purchasing an additional 83,897 shares during the period. Dimensional Fund Advisors LP owned 2.60% of Cirrus Logic worth $192,055,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. grew its stake in Cirrus Logic by 120.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after acquiring an additional 120 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its position in shares of Cirrus Logic by 7,333.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 220 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $33,000. Torren Management LLC purchased a new position in shares of Cirrus Logic in the fourth quarter valued at $35,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Cirrus Logic in the fourth quarter valued at $36,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Up 0.1%

CRUS opened at $133.61 on Friday. The company has a market capitalization of $6.74 billion, a price-to-earnings ratio of 17.04 and a beta of 1.17. The business’s fifty day simple moving average is $156.41 and its 200-day simple moving average is $148.40. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its 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 return on equity of 20.48% and a net margin of 20.75%.The company had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. During the same quarter in the prior year, the business earned $1.67 earnings per share. Cirrus Logic’s revenue was up 5.7% on a year-over-year basis. On average, equities research analysts predict that Cirrus Logic, Inc. will post 7.86 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CRUS shares. KeyCorp decreased their target price on shares of Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 14th. Zacks Research downgraded Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Barclays increased their target price on shares of Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, May 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.29.

Insiders Place Their Bets

In other news, EVP Scott Thomas sold 1,300 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president owned 31,048 shares of the company’s stock, valued at $5,589,881.92. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the sale, the executive vice president owned 17,575 shares in the company, valued at $2,962,090.50. The trade was a 18.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,299 shares of company stock valued at $3,581,647. 1.20% of the stock is currently 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.