GSA Capital Partners LLP Acquires Shares of 9,942 Cirrus Logic, Inc. $CRUS

GSA Capital Partners LLP purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 9,942 shares of the semiconductor company’s stock, valued at approximately $1,477,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Cirrus Logic by 7,333.3% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 220 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Cirrus Logic by 120.0% in 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 last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at $33,000. Torren Management LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cirrus Logic during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $121.09 on Monday. Cirrus Logic, Inc. has a fifty-two week low of $109.88 and a fifty-two week high of $180.42. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 14.82 and a beta of 1.18. The stock’s fifty day moving average is $143.70 and its two-hundred day moving average is $148.93.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%.The business had revenue of $459.72 million during the quarter, compared to the consensus estimate of $460.32 million. During the same quarter in the previous year, the company posted $1.51 EPS. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 7.47 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 3,907 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $168.54, for a total value of $658,485.78. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at $2,962,090.50. This represents a 18.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Scott Thomas sold 1,300 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total transaction of $234,052.00. Following the completion of the sale, the executive vice president owned 31,048 shares in the company, valued at $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,465 shares of company stock worth $2,891,169 in the last three months. Company insiders own 1.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Jefferies Financial Group raised Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Stifel Nicolaus decreased their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a research report on Thursday, August 6th. KeyCorp decreased their price target on Cirrus Logic from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, August 6th. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Zacks Research cut shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.71.

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.