John G Ullman & Associates Inc. Buys Shares of 3,950 Cirrus Logic, Inc. (NASDAQ:CRUS)

John G Ullman & Associates Inc. bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,950 shares of the semiconductor company’s stock, valued at approximately $366,000.

Other large investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its position in shares of 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 purchasing an additional 178 shares in the last quarter. Cardinal Capital Management boosted its position in shares of Cirrus Logic by 1.2% during the 4th quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock valued at $1,379,000 after purchasing an additional 189 shares in the last quarter. Atlas Capital Advisors LLC boosted its position in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Allworth Financial LP boosted its position in shares of Cirrus Logic by 2.9% during the 4th quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 213 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp raised their price objective on shares of Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday. Susquehanna raised their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a report on Wednesday, May 8th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 2nd. Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, Barclays raised their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and an average price target of $112.86.

Cirrus Logic Price Performance

CRUS traded up $1.97 during midday trading on Friday, hitting $137.19. 29,608 shares of the company’s stock traded hands, compared to its average volume of 450,090. The company has a market cap of $7.33 billion, a PE ratio of 27.43 and a beta of 0.94. The stock’s fifty day simple moving average is $118.30 and its 200-day simple moving average is $97.67. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $138.65.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The company had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. On average, research analysts expect that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Insider Transactions at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the transaction, the director now owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the sale, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Carl Jackson Alberty sold 2,000 shares of the stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the sale, the vice president now owns 38,507 shares in the company, valued at $4,364,768.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,706 shares of company stock worth $2,187,098. Insiders own 1.02% of the company’s stock.

Cirrus Logic Profile

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.