Crossmark Global Holdings Inc. Grows Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Crossmark Global Holdings Inc. raised its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 19.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,091 shares of the semiconductor company's stock after buying an additional 9,396 shares during the period. Crossmark Global Holdings Inc. owned about 0.11% of Cirrus Logic worth $5,689,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LSV Asset Management increased its holdings in Cirrus Logic by 7.3% in the fourth quarter. LSV Asset Management now owns 2,256,760 shares of the semiconductor company's stock valued at $224,728,000 after buying an additional 154,048 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Cirrus Logic by 12.0% in the fourth quarter. Mackenzie Financial Corp now owns 1,835,186 shares of the semiconductor company's stock valued at $182,748,000 after buying an additional 196,483 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Cirrus Logic in the fourth quarter valued at $170,796,000. Wellington Management Group LLP increased its holdings in Cirrus Logic by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company's stock valued at $163,639,000 after buying an additional 65,441 shares in the last quarter. Finally, Earnest Partners LLC increased its holdings in Cirrus Logic by 3.5% in the fourth quarter. Earnest Partners LLC now owns 1,364,140 shares of the semiconductor company's stock valued at $135,841,000 after buying an additional 46,121 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Analysts Set New Price Targets

CRUS has been the topic of several research analyst reports. Barclays lifted their target price on shares of Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 target price on shares of Cirrus Logic in a research report on Wednesday, May 7th. Benchmark reiterated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Wall Street Zen lowered shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research report on Thursday, June 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $128.33.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $105.62, for a total value of $105,620.00. Following the transaction, the director directly owned 20,907 shares in the company, valued at $2,208,197.34. The trade was a 4.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Carl Jackson Alberty sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total transaction of $200,000.00. Following the completion of the sale, the executive vice president directly owned 41,645 shares in the company, valued at $4,164,500. This trade represents a 4.58% 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 worth $1,305,620 in the last ninety days. 1.16% of the stock is owned by insiders.

Cirrus Logic Price Performance

CRUS traded down $2.71 on Wednesday, reaching $104.95. 796,172 shares of the company's stock were exchanged, compared to its average volume of 637,660. The stock has a market cap of $5.38 billion, a PE ratio of 17.46 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The stock's fifty day moving average price is $103.16 and its 200-day moving average price is $100.65.

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

Cirrus Logic announced that its board has initiated a share repurchase plan on Tuesday, May 6th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the semiconductor company to repurchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Cirrus Logic 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.