Truvestments Capital LLC Raises Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Truvestments Capital LLC raised its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 20.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,362 shares of the semiconductor company’s stock after purchasing an additional 740 shares during the quarter. Truvestments Capital LLC’s holdings in Cirrus Logic were worth $404,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CRUS. Venturi Wealth Management LLC increased 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 worth $31,000 after buying an additional 178 shares during the period. Atlas Capital Advisors LLC increased its position in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 204 shares during the period. Quadrant Capital Group LLC raised its stake 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 valued at $42,000 after acquiring an additional 214 shares in the last quarter. Disciplined Equity Management Inc. purchased a new position in Cirrus Logic in the fourth quarter valued at $83,000. Finally, SG Americas Securities LLC acquired a new position in Cirrus Logic during the 4th quarter worth $173,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Upgrades and Downgrades

CRUS has been the topic of a number of analyst reports. Barclays increased their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. KeyCorp raised their target price on shares of Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Friday. TD Cowen increased their price objective on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $128.57.

Insider Transactions at Cirrus Logic

In related news, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total value of $1,413,148.32. Following the transaction, the senior vice president now directly owns 23,975 shares in the company, valued at approximately $2,894,262. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total value of $1,413,148.32. Following the sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 4,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the transaction, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at $629,628.30. The disclosure for this sale can be found here. Insiders sold 18,706 shares of company stock worth $2,187,098 over the last 90 days. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Stock Up 1.9 %

NASDAQ:CRUS traded up $2.43 during trading hours on Friday, reaching $129.24. 405,489 shares of the company’s stock were exchanged, compared to its average volume of 449,097. The firm has a market capitalization of $6.91 billion, a price-to-earnings ratio of 26.22 and a beta of 0.94. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $142.83. The company has a 50-day moving average of $125.48 and a 200 day moving average of $101.93.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.48. The firm had revenue of $371.83 million for the quarter, compared to analysts’ expectations of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Research analysts forecast that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

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.