Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Bought by Cwm LLC

CWM LLC boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 424.2% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,082 shares of the semiconductor company's stock after acquiring an additional 13,014 shares during the period. CWM LLC's holdings in Cirrus Logic were worth $1,603,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. May Hill Capital LLC lifted its stake in shares of Cirrus Logic by 5.4% during the 1st quarter. May Hill Capital LLC now owns 2,220 shares of the semiconductor company's stock worth $221,000 after acquiring an additional 113 shares during the last quarter. Beverly Hills Private Wealth LLC boosted its position in Cirrus Logic by 3.7% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,440 shares of the semiconductor company's stock valued at $343,000 after buying an additional 124 shares during the period. Allworth Financial LP raised its holdings in shares of Cirrus Logic by 2.5% in the 1st quarter. Allworth Financial LP now owns 6,246 shares of the semiconductor company's stock valued at $577,000 after purchasing an additional 154 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Cirrus Logic by 17.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock valued at $105,000 after purchasing an additional 155 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Cirrus Logic by 0.3% in the 1st quarter. State of Alaska Department of Revenue now owns 55,852 shares of the semiconductor company's stock valued at $5,565,000 after purchasing an additional 165 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 10,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $1,000,000.00. Following the sale, the executive vice president directly owned 14,001 shares of the company's stock, valued at approximately $1,400,100. This represents a 41.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $105.62, for a total transaction of $105,620.00. Following the sale, the director directly owned 20,907 shares in the company, valued at $2,208,197.34. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,000 shares of company stock valued at $1,305,620 in the last ninety days. Insiders own 1.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Cirrus Logic from a "buy" rating to a "strong-buy" rating in a research note on Friday, July 18th. Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a research note on Wednesday, May 7th. Finally, Barclays boosted their price objective on shares of Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $128.33.

Cirrus Logic Trading Down 1.3%

Shares of CRUS stock traded down $1.38 during trading hours on Wednesday, hitting $102.93. The company's stock had a trading volume of 361,871 shares, compared to its average volume of 633,779. The company has a 50 day moving average of $104.07 and a 200 day moving average of $100.84. The stock has a market cap of $5.28 billion, a PE ratio of 17.13 and a beta of 0.95. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.15 by $0.52. The business had revenue of $424.46 million for the quarter, compared to the consensus estimate of $380.26 million. Cirrus Logic had a net margin of 17.48% and a return on equity of 17.66%. The business's revenue for the quarter was up 14.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic announced that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.