Caxton Associates LLP Makes New $1.11 Million Investment in Cirrus Logic, Inc. $CRUS

Caxton Associates LLP bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 7,683 shares of the semiconductor company's stock, valued at approximately $1,111,000.

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

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $133.61 on Monday. The company's fifty day moving average is $156.41 and its 200-day moving average is $148.61. The stock has a market cap of $6.74 billion, a price-to-earnings ratio of 17.04 and a beta of 1.17. Cirrus Logic, Inc. has a twelve month low of $92.02 and a twelve month high of $180.42.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 EPS for the quarter, beating analysts' consensus estimates of $1.76 by $0.19. The business had revenue of $448.52 million during the quarter, compared to analysts' expectations of $442.25 million. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.67 EPS. On average, research analysts anticipate that Cirrus Logic, Inc. will post 7.86 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Andrew Brannan sold 6,464 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the sale, the executive vice president directly owned 7,203 shares in the company, valued at $1,042,346.13. This represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, CEO John Forsyth sold 5,000 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $170.41, for a total value of $852,050.00. Following the sale, the chief executive officer directly owned 70,016 shares in the company, valued at approximately $11,931,426.56. This represents a 6.67% 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. In the last quarter, insiders sold 22,299 shares of company stock valued at $3,581,647. Insiders own 1.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRUS. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a research report on Thursday, May 7th. Zacks Research downgraded Cirrus Logic from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Weiss Ratings reissued a "hold (c+)" rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Barclays increased their target price on Cirrus Logic from $120.00 to $140.00 and gave the company an "equal weight" rating in a research note on Thursday, May 7th. Finally, Jefferies Financial Group upgraded Cirrus Logic to a "buy" rating in a research report on Thursday, June 4th. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus target price of $160.29.

Cirrus Logic Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.