Inspire Advisors LLC Buys 20,694 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Inspire Advisors LLC boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 177.8% in the second quarter, Holdings Channel reports. The institutional investor owned 32,331 shares of the semiconductor company’s stock after acquiring an additional 20,694 shares during the period. Cirrus Logic accounts for 0.5% of Inspire Advisors LLC’s holdings, making the stock its 16th biggest position. Inspire Advisors LLC’s holdings in Cirrus Logic were worth $4,127,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CRUS. Atlas Capital Advisors LLC increased 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. Quadrant Capital Group LLC increased its position in Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 344 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic during the second quarter valued at about $77,000. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $133.17 on Friday. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $147.46. The company’s fifty day moving average price is $135.00 and its 200 day moving average price is $114.10. The company has a market capitalization of $7.11 billion, a PE ratio of 27.01 and a beta of 0.97.

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

Insider Buying and Selling at Cirrus Logic

In related news, 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 transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the sale, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Andrew Brannan sold 4,350 shares of the 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 of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

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

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.