Cirrus Logic, Inc. $CRUS Stake Boosted by Horizon Investments LLC

Key Points

• Horizon Investments LLC increased its stake in Cirrus Logic by 49.1%, adding 8,929 shares to hold 27,126 shares valued at about $3.21 million.
• Other institutional moves were significant — Vaughan Nelson grew its stake 546.3% to 388,225 shares ($46.0M) and Vanguard holds 6.62M shares ($829.7M) — with institutions owning roughly 87.96% of the company.
• Cirrus Logic beat quarterly expectations (EPS $2.97 vs $2.37; revenue $580.6M) and analysts have an average rating of "Moderate Buy" with a $152.14 target as several firms raised price objectives.

Horizon Investments LLC increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 49.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,126 shares of the semiconductor company's stock after purchasing an additional 8,929 shares during the quarter. Horizon Investments LLC owned approximately 0.05% of Cirrus Logic worth $3,214,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRUS. Vaughan Nelson Investment Management L.P. increased its stake in Cirrus Logic by 546.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 388,225 shares of the semiconductor company's stock worth $46,005,000 after purchasing an additional 328,159 shares in the last quarter. Vanguard Group Inc. increased its stake in Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company's stock worth $829,724,000 after purchasing an additional 268,560 shares in the last quarter. SG Americas Securities LLC increased its stake in Cirrus Logic by 1,356.2% in the 3rd quarter. SG Americas Securities LLC now owns 171,165 shares of the semiconductor company's stock worth $21,445,000 after purchasing an additional 159,411 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Cirrus Logic in the 3rd quarter worth about $19,508,000. Finally, Barclays PLC increased its stake in Cirrus Logic by 234.4% in the 3rd quarter. Barclays PLC now owns 183,122 shares of the semiconductor company's stock worth $22,943,000 after purchasing an additional 128,362 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Stifel Nicolaus raised their price objective on Cirrus Logic from $163.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, April 16th. Barclays raised their price objective on Cirrus Logic from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 3rd. KeyCorp raised their price objective on Cirrus Logic from $150.00 to $175.00 and gave the stock an "overweight" rating in a research report on Monday, April 6th. Weiss Ratings restated 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 objective 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.com, the company currently has an average rating of "Moderate Buy" and an average target price of $152.14.

Cirrus Logic Trading Down 0.0%

Shares of NASDAQ CRUS opened at $164.17 on Tuesday. Cirrus Logic, Inc. has a one year low of $91.32 and a one year high of $175.77. The firm has a market capitalization of $8.37 billion, a PE ratio of 21.63 and a beta of 1.16. The business has a 50-day moving average price of $148.45 and a two-hundred day moving average price of $133.85.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly 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 business 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%.The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.51 EPS. Research analysts anticipate that Cirrus Logic, Inc. will post 7.76 EPS for the current year.

Insider Activity

In other news, EVP Justin E. Dougherty sold 3,000 shares of Cirrus Logic stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president directly owned 5,876 shares in the company, valued at $841,208.16. The trade was a 33.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott Thomas sold 9,942 shares of Cirrus Logic stock in a transaction dated 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 sale, the executive vice president 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 worth $5,427,114 in the last three months. 1.16% of the stock is owned by insiders.

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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