Headlands Technologies LLC Acquires New Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Headlands Technologies LLC purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,267 shares of the semiconductor company’s stock, valued at approximately $302,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Cirrus Logic by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after buying an additional 105,577 shares during the period. Mackenzie Financial Corp lifted its stake in shares of Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after buying an additional 35,722 shares during the period. LSV Asset Management lifted its stake in shares of Cirrus Logic by 8.3% during the first quarter. LSV Asset Management now owns 1,404,407 shares of the semiconductor company’s stock worth $129,992,000 after buying an additional 107,888 shares during the period. Wellington Management Group LLP lifted its stake in shares of Cirrus Logic by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after buying an additional 38,659 shares during the period. Finally, Balyasny Asset Management L.P. lifted its stake in shares of Cirrus Logic by 307.2% during the fourth 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. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. KeyCorp lifted their price objective on shares of Cirrus Logic from $120.00 to $155.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. Barclays lifted their price objective on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark downgraded 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $120.71.

Cirrus Logic Stock Performance

NASDAQ CRUS traded down $2.57 on Wednesday, reaching $140.08. 34,128 shares of the company’s stock traded hands, compared to its average volume of 448,943. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $142.83. The stock has a 50 day moving average price of $121.30 and a 200-day moving average price of $99.03. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of 28.94 and a beta of 0.94.

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

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, VP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction on Monday, May 20th. The shares were sold at an average price of $113.35, for a total value of $226,700.00. Following the completion of the transaction, the vice president now owns 38,507 shares of the company’s stock, valued at $4,364,768.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Carl Jackson Alberty sold 2,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the sale, the vice president now owns 38,507 shares of the company’s stock, valued at $4,364,768.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the sale, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,706 shares of company stock valued at $2,187,098. Corporate insiders own 1.02% of the company’s stock.

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.