Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Pacer Advisors Inc.

Pacer Advisors Inc. grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8,183.4% in the second quarter, Holdings Channel.com reports. The fund owned 665,320 shares of the semiconductor company’s stock after purchasing an additional 657,288 shares during the period. Pacer Advisors Inc.’s holdings in Cirrus Logic were worth $84,935,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of CRUS. Vanguard Group Inc. grew its stake in Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after acquiring an additional 128,393 shares during the period. LSV Asset Management grew its stake in Cirrus Logic by 34.6% in the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after acquiring an additional 486,086 shares during the period. Wellington Management Group LLP grew its stake in Cirrus Logic by 2.9% in the 4th quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after acquiring an additional 38,659 shares during the period. Earnest Partners LLC grew its stake in Cirrus Logic by 4.8% in the 1st quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock worth $122,029,000 after acquiring an additional 60,261 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in Cirrus Logic by 307.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock worth $58,777,000 after acquiring an additional 533,019 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CRUS. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. Susquehanna boosted their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, July 17th. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays upped their price target on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, KeyCorp upped their price target on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $143.33.

Cirrus Logic Trading Down 1.6 %

Shares of Cirrus Logic stock opened at $123.11 on Friday. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $147.46. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 24.97 and a beta of 0.97. The company has a fifty day moving average price of $133.91 and a 200 day moving average price of $115.41.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same quarter in the previous year, the business posted $0.35 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Analysts forecast that Cirrus Logic, Inc. will post 5.35 earnings per share for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

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.