Quantinno Capital Management LP Acquires 163,979 Shares of Cirrus Logic, Inc. $CRUS

Quantinno Capital Management LP increased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 21.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 942,207 shares of the semiconductor company’s stock after acquiring an additional 163,979 shares during the quarter. Quantinno Capital Management LP’s holdings in Cirrus Logic were worth $136,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CRUS. Geneos Wealth Management Inc. increased its position in Cirrus Logic by 120.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 120 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in shares of Cirrus Logic by 7,333.3% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Cirrus Logic in the 4th quarter worth about $33,000. Torren Management LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $35,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $36,000. Institutional investors own 87.96% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the sale, the executive vice president owned 17,575 shares in the company, valued at $2,962,090.50. This represents a 18.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value of $234,052.00. Following the transaction, the executive vice president directly owned 31,048 shares of the company’s stock, valued at approximately $5,589,881.92. This trade represents a 4.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 22,299 shares of company stock valued at $3,581,647. 1.20% of the stock is currently owned by insiders.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $136.12 on Tuesday. The firm’s 50-day moving average price is $155.92 and its 200-day moving average price is $148.70. The company has a market capitalization of $6.87 billion, a PE ratio of 17.36 and a beta of 1.17. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, topping the consensus estimate of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The business had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.25 million. During the same quarter in the previous year, the firm posted $1.67 earnings per share. Cirrus Logic’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate that Cirrus Logic, Inc. will post 7.86 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CRUS has been the subject of a number of research reports. Jefferies Financial Group raised shares of Cirrus Logic to a “buy” rating in a research note on Thursday, June 4th. Barclays lifted their price objective on Cirrus Logic from $120.00 to $140.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a report on Thursday, May 7th. Zacks Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, KeyCorp lowered their target price on Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.29.

About Cirrus Logic

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.