Corient Private Wealth LLC Has $3.06 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Key Points

• Corient Private Wealth LLC more than doubled its Cirrus Logic stake in Q4, adding 12,923 shares to end with 25,768 shares valued at about $3.06 million.
• Cirrus Logic shares were down 4.9% on Friday, opening at $146.50, while the stock has traded between a 52-week low of $92.02 and high of $180.42.
• The company recently beat quarterly expectations, reporting $1.95 EPS on revenue of $448.52 million, and analysts currently rate the stock a Moderate Buy with a consensus target price of $161.71.

Corient Private Wealth LLC boosted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 100.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,768 shares of the semiconductor company's stock after acquiring an additional 12,923 shares during the quarter. Corient Private Wealth LLC owned 0.05% of Cirrus Logic worth $3,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRUS. Royal Bank of Canada grew its stake in shares of Cirrus Logic by 92.3% in the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company's stock worth $7,189,000 after purchasing an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 purchasing an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $21,372,000 after purchasing an additional 9,658 shares during the last quarter. Focus Partners Wealth acquired a new position in Cirrus Logic during the 1st quarter worth about $361,000. Finally, Geneos Wealth Management Inc. lifted its holdings 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. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 4.9%

Shares of Cirrus Logic stock opened at $146.50 on Friday. The business has a 50-day moving average price of $166.33 and a two-hundred day moving average price of $145.41. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42. The company has a market cap of $7.39 billion, a P/E ratio of 18.69 and a beta of 1.15.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to analyst estimates of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. Equities research analysts forecast that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 1,170 shares of the business's stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $168.23, for a total value of $196,829.10. Following the transaction, the executive vice president directly owned 16,405 shares of the company's stock, valued at approximately $2,759,813.15. The trade was a 6.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 2,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $166.50, for a total value of $333,000.00. Following the transaction, the executive vice president owned 4,537 shares in the company, valued at $755,410.50. The trade was a 30.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 24,319 shares of company stock valued at $4,025,230 over the last ninety days. Insiders own 1.20% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. KeyCorp increased their price target on Cirrus Logic from $175.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, May 7th. Barclays lifted their price objective on Cirrus Logic from $120.00 to $140.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Jefferies Financial Group upgraded Cirrus Logic to a "buy" rating in a report on Thursday, June 4th. Stifel Nicolaus set a $197.00 target price on shares of Cirrus Logic in a research report on Thursday, May 7th. Finally, Zacks Research lowered shares of Cirrus Logic from a "strong-buy" rating to a "hold" rating in a report on Monday, April 27th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.71.

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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