3,616 Shares in Cirrus Logic, Inc. (NASDAQ:CRUS) Acquired by Aaron Wealth Advisors LLC

Aaron Wealth Advisors LLC acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,616 shares of the semiconductor company's stock, valued at approximately $360,000.

Other hedge funds have also recently made changes to their positions in the company. Headlands Technologies LLC purchased a new position in shares of Cirrus Logic during the 4th quarter worth approximately $39,000. UMB Bank n.a. boosted its position in Cirrus Logic by 124.5% in the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock valued at $52,000 after buying an additional 290 shares during the period. Transce3nd LLC purchased a new position in Cirrus Logic in the 4th quarter valued at approximately $63,000. Menard Financial Group LLC purchased a new position in Cirrus Logic in the 4th quarter valued at approximately $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Cirrus Logic by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Buying and Selling

In related news, EVP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the sale, the executive vice president directly owned 41,645 shares in the company, valued at $4,164,500. This trade represents a 4.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total transaction of $105,620.00. Following the sale, the director owned 20,907 shares in the company, valued at $2,208,197.34. This represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock worth $1,305,620 in the last ninety days. 1.16% of the stock is owned by corporate insiders.

Cirrus Logic Trading Up 0.8%

Shares of CRUS opened at $110.25 on Friday. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The firm's fifty day simple moving average is $102.29 and its 200-day simple moving average is $100.51. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 18.34 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates of $1.15 by $0.52. Cirrus Logic had a net margin of 17.48% and a return on equity of 17.66%. The business had revenue of $424.46 million for the quarter, compared to analyst estimates of $380.26 million. During the same period last year, the business earned $1.24 EPS. The company's revenue was up 14.2% on a year-over-year basis. On average, analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has approved a stock buyback program on Tuesday, May 6th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase up to 9.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRUS. Stifel Nicolaus set a $120.00 price target on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark reissued a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays raised their price target on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Thursday, June 5th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Cirrus Logic presently has an average rating of "Moderate Buy" and an average target price of $128.33.

About Cirrus Logic

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.

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