Wealth Enhancement Advisory Services LLC Buys 1,770 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Wealth Enhancement Advisory Services LLC grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 43.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,874 shares of the semiconductor company’s stock after acquiring an additional 1,770 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Cirrus Logic were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Arkadios Wealth Advisors lifted its stake in Cirrus Logic by 43.6% in the third quarter. Arkadios Wealth Advisors now owns 6,336 shares of the semiconductor company’s stock valued at $787,000 after purchasing an additional 1,923 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at $8,878,000. Moody Aldrich Partners LLC purchased a new position in shares of Cirrus Logic during the 3rd quarter valued at $211,000. Lecap Asset Management Ltd. grew its stake in shares of Cirrus Logic by 316.2% during the 3rd quarter. Lecap Asset Management Ltd. now owns 17,009 shares of the semiconductor company’s stock worth $2,113,000 after acquiring an additional 12,922 shares during the period. Finally, Global X Japan Co. Ltd. purchased a new stake in Cirrus Logic in the 3rd quarter worth about $635,000. 87.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CRUS shares. StockNews.com lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday. KeyCorp lifted their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Barclays lowered their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday. Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Susquehanna decreased their price objective on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.00.

Insiders Place Their Bets

In other news, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction on 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 directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $104.11 on Thursday. The firm has a market capitalization of $5.56 billion, a price-to-earnings ratio of 19.24 and a beta of 0.96. The stock has a fifty day moving average of $124.88 and a 200 day moving average of $122.24. Cirrus Logic, Inc. has a 52-week low of $69.23 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. Cirrus Logic’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities analysts forecast that Cirrus Logic, Inc. will post 5.37 earnings per share for the current fiscal year.

About Cirrus Logic

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.