Jackson Creek Investment Advisors LLC Makes New $743,000 Investment in Cirrus Logic, Inc. (NASDAQ:CRUS)

Jackson Creek Investment Advisors LLC acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,456 shares of the semiconductor company's stock, valued at approximately $743,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRUS. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic in the fourth quarter worth $39,000. UMB Bank n.a. raised its stake in shares of Cirrus Logic by 124.5% during the 1st quarter. UMB Bank n.a. now owns 523 shares of the semiconductor company's stock worth $52,000 after purchasing an additional 290 shares in the last quarter. Transce3nd LLC acquired a new stake in shares of Cirrus Logic during the 4th quarter valued at about $63,000. Menard Financial Group LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at approximately $67,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Cirrus Logic by 17.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,057 shares of the semiconductor company's stock worth $105,000 after buying an additional 155 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 0.3%

Shares of CRUS traded down $0.32 during mid-day trading on Tuesday, hitting $104.31. 373,679 shares of the company traded hands, compared to its average volume of 633,529. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 17.36 and a beta of 0.95. The business has a 50-day moving average of $104.15 and a 200 day moving average of $100.79. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.15 by $0.52. The company had revenue of $424.46 million during the quarter, compared to analysts' expectations 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 quarter in the previous year, the company earned $1.24 EPS. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic declared that its Board of Directors has authorized a stock buyback 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 purchase up to 9.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CRUS shares. Wall Street Zen upgraded Cirrus Logic from a "buy" rating to a "strong-buy" rating in a report on Friday. Barclays boosted their price objective on Cirrus Logic from $80.00 to $90.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 price objective on Cirrus Logic in a report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cirrus Logic currently has an average rating of "Buy" and an average price target of $128.33.

Insiders Place Their Bets

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director owned 20,907 shares of the company's stock, valued at $2,208,197.34. This represents a 4.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffrey W. Baumgartner sold 10,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $100.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive vice president owned 14,001 shares of the company's stock, valued at $1,400,100. The trade was a 41.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,000 shares of company stock worth $1,305,620. Company insiders own 1.16% of the company's stock.

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.