Caxton Associates LLP Acquires New Stake in Cirrus Logic, Inc. $CRUS

Caxton Associates LLP bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the first quarter, HoldingsChannel.com reports. The firm bought 7,683 shares of the semiconductor company’s stock, valued at approximately $1,111,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 220 shares in the last quarter. Geneos Wealth Management Inc. raised its position in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at approximately $33,000. Torren Management LLC bought a new stake in Cirrus Logic in the 4th quarter valued at approximately $35,000. Finally, Kestra Advisory Services LLC bought a new stake in Cirrus Logic in the 4th quarter valued at approximately $36,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $133.61 on Monday. The company’s 50 day moving average price is $156.41 and its two-hundred day moving average price is $148.61. Cirrus Logic, Inc. has a 12-month low of $92.02 and a 12-month high of $180.42. The firm has a market cap of $6.74 billion, a PE ratio of 17.04 and a beta of 1.17.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.19. The business had revenue of $448.52 million during the quarter, compared to analysts’ expectations of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The firm’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 company posted $1.67 earnings per share. On average, research analysts expect that Cirrus Logic, Inc. will post 7.86 EPS for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total value of $159,000.00. Following the transaction, the director directly owned 20,531 shares of the company’s stock, valued at $3,264,429. This trade represents a 4.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeffrey W. Baumgartner sold 1,458 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $145.97, for a total transaction of $212,824.26. Following the completion of the transaction, the executive vice president owned 16,405 shares of the company’s stock, valued at $2,394,637.85. The trade was a 8.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,299 shares of company stock worth $3,581,647 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRUS has been the subject of several research reports. Barclays raised their price target on shares of Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a report on Wednesday, June 24th. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Finally, Stifel Nicolaus set a $197.00 price target on shares of Cirrus Logic in a research note on Thursday, May 7th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $160.29.

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.