Diversified Trust Co Raises Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Diversified Trust Co raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,310 shares of the semiconductor company’s stock after acquiring an additional 714 shares during the quarter. Diversified Trust Co’s holdings in Cirrus Logic were worth $862,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CRUS. Norges Bank acquired a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $51,890,000. Balyasny Asset Management L.P. increased its holdings in shares of Cirrus Logic by 307.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock valued at $58,777,000 after purchasing an additional 533,019 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at approximately $27,072,000. Kettle Hill Capital Management LLC acquired a new stake in shares of Cirrus Logic in the third quarter valued at approximately $14,442,000. Finally, Sei Investments Co. increased its holdings in shares of Cirrus Logic by 30.8% in the fourth quarter. Sei Investments Co. now owns 653,998 shares of the semiconductor company’s stock valued at $54,406,000 after purchasing an additional 153,946 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Activity 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 stock was 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 in the company, valued at $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 23,975 shares in the company, valued at $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic 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 of the company’s stock, valued at $2,239,612.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,706 shares of company stock worth $2,187,098. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Up 1.9 %

CRUS opened at $129.77 on Wednesday. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $130.29. The business has a fifty day simple moving average of $112.04 and a 200-day simple moving average of $95.47. The firm has a market cap of $6.94 billion, a P/E ratio of 26.32 and a beta of 0.94.

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on CRUS shares. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays increased their price objective on Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. TD Cowen increased their price objective on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, KeyCorp increased their price objective on Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.86.

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.