Versant Capital Management Inc Has $46,000 Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Versant Capital Management Inc lifted its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 1,911.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 362 shares of the semiconductor company’s stock after acquiring an additional 344 shares during the period. Versant Capital Management Inc’s holdings in Cirrus Logic were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CRUS. Norges Bank acquired a new stake in shares of Cirrus Logic in the 4th quarter valued at approximately $51,890,000. Balyasny Asset Management L.P. raised its holdings in Cirrus Logic by 307.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock worth $58,777,000 after buying an additional 533,019 shares during the period. Kodai Capital Management LP acquired a new stake in Cirrus Logic during the 4th quarter worth approximately $27,072,000. Acadian Asset Management LLC raised its holdings in Cirrus Logic by 68.6% during the 1st quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock worth $42,619,000 after buying an additional 187,438 shares during the period. Finally, DNB Asset Management AS acquired a new stake in Cirrus Logic during the 2nd quarter worth approximately $23,250,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cirrus Logic

In related news, SVP Scott Thomas sold 11,706 shares of the firm’s 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 completion of the transaction, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at $2,894,262. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction 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 completion of the sale, the director now owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Scott Thomas sold 11,706 shares of the firm’s 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 sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,706 shares of company stock valued at $2,187,098. 1.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRUS has been the topic of several research analyst reports. KeyCorp raised their target price on shares of Cirrus Logic from $120.00 to $155.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Stifel Nicolaus raised their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Susquehanna raised their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Finally, Benchmark cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.67.

Cirrus Logic Stock Up 2.2 %

Shares of NASDAQ:CRUS traded up $2.45 during midday trading on Tuesday, hitting $115.31. The stock had a trading volume of 632,839 shares, compared to its average volume of 459,819. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $142.83. The business’s 50-day simple moving average is $126.58 and its 200-day simple moving average is $103.99. The company has a market cap of $6.16 billion, a P/E ratio of 22.89 and a beta of 0.94.

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

Cirrus Logic Company 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.