Cirrus Logic, Inc. $CRUS Holdings Lifted by Hillsdale Investment Management Inc.

Key Points

• Hillsdale Investment Management sharply increased its Cirrus Logic stake by 286.8% in the fourth quarter, ending with 35,470 shares worth about $4.2 million.
• Insiders sold shares recently, including EVP Justin E. Dougherty and EVP Scott Thomas, with total insider sales over the last quarter reaching 17,942 shares valued at roughly $2.94 million.
• Cirrus Logic beat earnings expectations in its latest quarterly report, posting $1.95 EPS versus $1.76 expected and revenue of $448.52 million, while analysts currently have a consensus Moderate Buy rating with a $161.71 target price.

Hillsdale Investment Management Inc. boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 286.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,470 shares of the semiconductor company's stock after buying an additional 26,300 shares during the quarter. Hillsdale Investment Management Inc. owned 0.07% of Cirrus Logic worth $4,203,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Baker Avenue Asset Management LP boosted its stake in Cirrus Logic by 8.0% during the fourth quarter. Baker Avenue Asset Management LP now owns 11,848 shares of the semiconductor company's stock valued at $1,404,000 after buying an additional 879 shares in the last quarter. AlphaQuest LLC boosted its stake in Cirrus Logic by 1,258.4% during the fourth quarter. AlphaQuest LLC now owns 12,416 shares of the semiconductor company's stock valued at $1,471,000 after buying an additional 11,502 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Cirrus Logic by 153.4% during the fourth quarter. Clearstead Advisors LLC now owns 560 shares of the semiconductor company's stock valued at $66,000 after buying an additional 339 shares in the last quarter. New Age Alpha Advisors LLC boosted its stake in Cirrus Logic by 4.8% during the fourth quarter. New Age Alpha Advisors LLC now owns 12,349 shares of the semiconductor company's stock valued at $1,463,000 after buying an additional 570 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its stake in Cirrus Logic by 43.3% during the fourth quarter. Hantz Financial Services Inc. now owns 917 shares of the semiconductor company's stock valued at $109,000 after buying an additional 277 shares in the last quarter. Institutional investors own 87.96% of the company's stock.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Justin E. Dougherty sold 2,000 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $166.50, for a total transaction of $333,000.00. Following the completion of the sale, the executive vice president directly owned 4,537 shares in the company, valued at approximately $755,410.50. This trade represents a 30.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Scott Thomas sold 9,942 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $160.11, for a total value of $1,591,813.62. Following the sale, the executive vice president owned 30,393 shares of the company's stock, valued at $4,866,223.23. The trade was 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. Over the last quarter, insiders have sold 17,942 shares of company stock valued at $2,935,864. 1.16% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRUS. KeyCorp increased their price target on Cirrus Logic from $175.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, May 7th. Zacks Research lowered Cirrus Logic from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Barclays increased their price target on Cirrus Logic from $120.00 to $140.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a "hold (c+)" rating on shares of Cirrus Logic in a research report on Friday, March 27th. Finally, Loop Capital lowered Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price target for the company. in a research report on Monday, February 2nd. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Cirrus Logic has an average rating of "Moderate Buy" and a consensus target price of $161.71.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $169.95 on Monday. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42. The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of 21.68 and a beta of 1.15. The stock has a fifty day simple moving average of $160.17 and a 200 day simple moving average of $139.34.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.19. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.26 million. During the same quarter last year, the company posted $1.67 EPS. Cirrus Logic's revenue for the quarter was up 5.7% on a year-over-year basis. Equities analysts predict that Cirrus Logic, Inc. will post 8.01 earnings per share for the current year.

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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