3,069 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Purchased by Outlook Wealth Advisors LLC

Outlook Wealth Advisors LLC bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, Holdings Channel reports. The firm bought 3,069 shares of the semiconductor company’s stock, valued at approximately $284,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its stake in Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after buying an additional 178 shares during the last quarter. Atlas Capital Advisors LLC boosted its stake in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares during the period. Nisa Investment Advisors LLC increased its position in Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock valued at $53,000 after acquiring an additional 300 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in Cirrus Logic in the third quarter valued at about $62,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CRUS shares. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Susquehanna lifted their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. TD Cowen raised their target price on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Barclays upped their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, Stifel Nicolaus raised their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $96.43.

Cirrus Logic Trading Up 1.4 %

Shares of NASDAQ:CRUS traded up $1.22 during mid-day trading on Friday, reaching $88.53. The stock had a trading volume of 203,839 shares, compared to its average volume of 290,730. The company has a market cap of $4.77 billion, a P/E ratio of 28.10 and a beta of 1.00. The business’s 50 day moving average price is $90.05 and its 200 day moving average price is $82.00. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. The business had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Analysts predict that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.