37,054 Shares in Cirrus Logic, Inc. $CRUS Bought by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 37,054 Cirrus Logic shares in the second quarter, worth approximately $5.5 million, giving it a 0.07% stake. Institutional investors collectively own 87.96% of the company.
• Analyst sentiment is mixed: five analysts rate CRUS a Buy, three Hold, and one Sell. The stock has an average rating of Hold and a consensus price target of $150.71.
• Cirrus Logic recently beat quarterly EPS expectations, reporting $1.84 versus $1.81 forecast, while revenue rose 12.9% year over year. However, the stock opened at $111.64, near its 52-week low of $109.88, and insiders have sold more than $2.5 million in shares over the past 90 days.

Deutsche Bank AG acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 37,054 shares of the semiconductor company's stock, valued at approximately $5,504,000. Deutsche Bank AG owned 0.07% of Cirrus Logic as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Cirrus Logic by 92.3% during the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company's stock valued at $7,189,000 after purchasing an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Cirrus Logic by 24.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company's stock worth $132,000 after purchasing an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cirrus Logic by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company's stock worth $21,372,000 after purchasing an additional 9,658 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Cirrus Logic during the first quarter valued at approximately $361,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock valued at $47,000 after buying an additional 232 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group raised Cirrus Logic to a "buy" rating in a research note on Thursday, June 4th. KeyCorp cut their price objective on Cirrus Logic from $190.00 to $170.00 and set an "overweight" rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Stifel Nicolaus decreased their target price 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. Finally, Wall Street Zen downgraded Cirrus Logic from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Cirrus Logic has an average rating of "Hold" and a consensus target price of $150.71.

Cirrus Logic Stock Performance

Shares of CRUS opened at $111.64 on Tuesday. The company has a 50 day moving average price of $138.06 and a 200-day moving average price of $148.38. Cirrus Logic, Inc. has a fifty-two week low of $109.88 and a fifty-two week high of $180.42. The stock has a market capitalization of $5.60 billion, a PE ratio of 13.66 and a beta of 1.18.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.03. The company had revenue of $459.72 million for the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic's revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $1.51 earnings per share. Equities research analysts forecast that Cirrus Logic, Inc. will post 7.47 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Scott Thomas sold 1,300 shares of the stock in a transaction on Wednesday, June 3rd. The stock was 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 approximately $5,589,881.92. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 3,907 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $168.54, for a total value of $658,485.78. Following the completion of the sale, the executive vice president directly owned 17,575 shares of the company's stock, valued at approximately $2,962,090.50. This represents a 18.19% decrease in their position. 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. Over the last ninety days, insiders sold 16,631 shares of company stock worth $2,536,629. 1.20% of the stock is owned by corporate insiders.

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.

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