Acadian Asset Management LLC Has $42.62 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Acadian Asset Management LLC raised its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 68.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460,681 shares of the semiconductor company’s stock after purchasing an additional 187,438 shares during the quarter. Acadian Asset Management LLC owned 0.85% of Cirrus Logic worth $42,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. Cardinal Capital Management raised its stake in shares of Cirrus Logic by 1.2% in the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after acquiring an additional 189 shares during the last quarter. Atlas Capital Advisors LLC lifted its position in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Allworth Financial LP grew its stake in shares of Cirrus Logic by 2.9% during the fourth quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock valued at $624,000 after purchasing an additional 213 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 214 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on CRUS. Stifel Nicolaus upped their price objective on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com raised Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Susquehanna boosted their price objective on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Finally, Barclays raised their target price on shares of Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cirrus Logic currently has a consensus rating of “Buy” and an average price target of $128.57.

Cirrus Logic Stock Performance

NASDAQ:CRUS traded up $3.08 on Monday, reaching $137.95. The company’s stock had a trading volume of 234,504 shares, compared to its average volume of 452,333. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $142.83. The business’s 50-day moving average price is $123.30 and its two-hundred day moving average price is $100.21. The firm has a market cap of $7.37 billion, a PE ratio of 27.36 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 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.48. The firm had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Insider Buying and Selling

In other news, Director Alexander M. Davern sold 1,000 shares of the 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 sale, the director now directly owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the sale, the director now owns 19,332 shares in the company, valued at $2,239,612.20. The disclosure for this sale can be found here. Insiders have sold 18,706 shares of company stock valued at $2,187,098 over the last 90 days. 1.02% of the stock is owned by corporate 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.