Dakota Wealth Management Makes New Investment in Cirrus Logic, Inc. $CRUS

Key Points

• Dakota Wealth Management initiated a new position in Cirrus Logic (NASDAQ:CRUS) in Q4, acquiring 11,645 shares worth about $1.38 million.
• Cirrus Logic beat estimates last quarter (EPS $2.97 vs. $2.37 expected; revenue $580.6M) and carries a MarketBeat consensus rating of "Moderate Buy" with an average target of $146.86.
• Insiders have been selling: CEO John Forsyth sold 21,806 shares and EVP Scott Thomas sold 3,239 shares, with insiders offloading 28,045 shares (~$3.84M) over the past 90 days.

Dakota Wealth Management acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,645 shares of the semiconductor company's stock, valued at approximately $1,380,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CRUS. Abich Financial Wealth Management LLC bought a new position in Cirrus Logic in the 3rd quarter worth $46,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Cirrus Logic during the second quarter valued at about $39,000. Rothschild Investment LLC purchased a new position in shares of Cirrus Logic in the third quarter valued at about $48,000. SJS Investment Consulting Inc. lifted its position in shares of Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company's stock valued at $50,000 after acquiring an additional 385 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Cirrus Logic by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company's stock worth $47,000 after acquiring an additional 232 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRUS. Loop Capital cut Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 target price for the company. in a research report on Monday, February 2nd. Barclays increased their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Tuesday, March 3rd. Weiss Ratings reissued a "hold (c+)" rating on shares of Cirrus Logic in a report on Monday, December 29th. Benchmark upped their target price on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 4th. Finally, Stifel Nicolaus raised their target price on shares of Cirrus Logic from $150.00 to $163.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $146.86.

Insider Buying and Selling

In other Cirrus Logic news, EVP Scott Thomas sold 3,239 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $141.63, for a total transaction of $458,739.57. Following the completion of the transaction, the executive vice president owned 30,393 shares in the company, valued at $4,304,560.59. This trade represents a 9.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the completion of the transaction, the chief executive officer directly owned 50,723 shares of the company's stock, valued at $6,855,213.45. The trade was a 30.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 28,045 shares of company stock worth $3,835,300. Insiders own 1.16% of the company's stock.

Cirrus Logic Trading Down 3.6%

Shares of Cirrus Logic stock opened at $143.39 on Friday. The firm has a market cap of $7.31 billion, a PE ratio of 18.89 and a beta of 1.12. The stock has a 50 day moving average of $137.03 and a 200 day moving average of $127.66. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $154.90.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.37 by $0.60. The business had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The company's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 EPS. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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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