Lecap Asset Management Ltd. Purchases Shares of 7,495 Cirrus Logic, Inc. $CRUS

Key Points

• Lecap Asset Management opened a new position in Cirrus Logic in Q4, buying 7,495 shares valued at approximately $888,000.
• Insiders have been net sellers: executives sold 37,987 shares (~$5.43M) in the last three months, including EVP Scott Thomas selling 9,942 shares at an average $160.11 under a Rule 10b5-1 plan; insiders now own about 1.16% of the company.
• Company performance and analyst view: Cirrus Logic reported a Q3 beat (EPS $2.97 vs. $2.37, revenue $580.6M), has a market cap of $8.56B and a one-year high near $168.92, and the consensus rating is a "Moderate Buy" with an average target of $152.14.

Lecap Asset Management Ltd. acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,495 shares of the semiconductor company's stock, valued at approximately $888,000.

A number of other large investors have also recently made changes to their positions in CRUS. Abich Financial Wealth Management LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at $46,000. Rothschild Investment LLC bought a new position in Cirrus Logic in the 3rd quarter worth $48,000. SJS Investment Consulting Inc. increased its stake in Cirrus Logic by 2,406.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company's stock worth $50,000 after buying an additional 385 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Cirrus Logic by 95.1% in 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 in the last quarter. Finally, True Wealth Design LLC raised its holdings in Cirrus Logic by 193.0% during the third quarter. True Wealth Design LLC now owns 548 shares of the semiconductor company's stock valued at $69,000 after acquiring an additional 361 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Scott Thomas sold 9,942 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the completion of the sale, the executive vice president directly owned 30,393 shares of the company's stock, valued at approximately $4,866,223.23. This trade represents a 24.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 3,000 shares of the company's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the transaction, the executive vice president owned 5,876 shares in the company, valued at approximately $841,208.16. The trade was a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 37,987 shares of company stock valued at $5,427,114. Insiders own 1.16% of the company's stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $167.80 on Monday. Cirrus Logic, Inc. has a 1-year low of $83.43 and a 1-year high of $168.92. The business's 50 day moving average is $143.97 and its two-hundred day moving average is $131.07. The stock has a market capitalization of $8.56 billion, a P/E ratio of 22.11 and a beta of 1.08.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. 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. Weiss Ratings reissued a "hold (c+)" rating on shares of Cirrus Logic in a report on Friday, March 27th. Benchmark increased their price objective on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $163.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Barclays boosted their target price on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $152.14.

Cirrus Logic Company 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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