Caprock Group LLC Has $3.09 Million Stock Position in Cirrus Logic, Inc. $CRUS

Caprock Group LLC increased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 43.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,045 shares of the semiconductor company's stock after buying an additional 7,827 shares during the quarter. Caprock Group LLC owned about 0.05% of Cirrus Logic worth $3,086,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CRUS. Abich Financial Wealth Management LLC acquired a new position in Cirrus Logic during the 3rd quarter worth approximately $46,000. Geneos Wealth Management Inc. raised its stake in Cirrus Logic by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock worth $47,000 after buying an additional 232 shares during the period. Rothschild Investment LLC acquired a new position in Cirrus Logic during the 3rd quarter worth approximately $48,000. SJS Investment Consulting Inc. raised its stake in Cirrus Logic by 2,406.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company's stock worth $50,000 after buying an additional 385 shares during the period. Finally, State of Wyoming acquired a new position in Cirrus Logic during the 2nd quarter worth approximately $64,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of recent research reports. Benchmark boosted their price objective on Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. KeyCorp boosted their price objective on Cirrus Logic from $150.00 to $175.00 and gave the stock an "overweight" rating in a report on Monday, April 6th. Barclays boosted their price objective on Cirrus Logic from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Stifel Nicolaus boosted their price objective on Cirrus Logic from $163.00 to $175.00 and gave the stock a "buy" rating in a report on Thursday, April 16th. Finally, Loop Capital lowered Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a report on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and a consensus price target of $152.14.

Cirrus Logic Stock Performance

Shares of CRUS opened at $172.81 on Friday. The firm has a market capitalization of $8.82 billion, a P/E ratio of 22.77 and a beta of 1.08. The stock has a 50 day moving average price of $146.29 and a two-hundred day moving average price of $132.22. Cirrus Logic, Inc. has a 52 week low of $89.64 and a 52 week high of $173.84.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.51 earnings per share. On average, equities analysts forecast that Cirrus Logic, Inc. will post 7.76 earnings per share for the current year.

Insider Activity

In other news, EVP Justin E. Dougherty sold 3,000 shares of the company's stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the completion of the transaction, the executive vice president directly owned 5,876 shares of the company's stock, valued at $841,208.16. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott Thomas sold 9,942 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $160.11, for a total value of $1,591,813.62. Following the completion of the transaction, the executive vice president directly owned 30,393 shares of the company's stock, valued at approximately $4,866,223.23. This represents a 24.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,987 shares of company stock valued at $5,427,114 over the last three months. Corporate insiders own 1.16% of the company's stock.

Cirrus Logic Profile

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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