UBS Group AG Boosts Stock Position in Cirrus Logic, Inc. $CRUS

Key Points

• UBS Group AG boosted its stake in Cirrus Logic by 15.8% in Q4, owning 396,170 shares worth about $46.95 million (≈0.78% of the company) after acquiring an additional 53,981 shares.
• Cirrus Logic beat Q expectations with Q results of $2.97 EPS vs. $2.37 and revenue of $580.6M vs. $531.4M, while analysts hold a consensus "Moderate Buy" with a $152.14 target and the stock trading near $167.69 (52‑week high $175.77).
• Company insiders have been net sellers recently—16,181 shares sold (~$2.48M) over the last 90 days—leaving insiders with about 1.16% ownership.

UBS Group AG boosted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 15.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 396,170 shares of the semiconductor company's stock after acquiring an additional 53,981 shares during the quarter. UBS Group AG owned about 0.78% of Cirrus Logic worth $46,946,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its position in Cirrus Logic by 92.3% in the 1st quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company's stock valued at $7,189,000 after buying an additional 34,629 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Cirrus Logic by 24.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company's stock worth $132,000 after acquiring an additional 263 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cirrus Logic by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company's stock valued at $21,372,000 after acquiring an additional 9,658 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Cirrus Logic in the first quarter valued at about $361,000. Finally, Geneos Wealth Management Inc. increased its stake in shares of Cirrus Logic by 95.1% during 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. Institutional investors and hedge funds own 87.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRUS. Weiss Ratings restated a "hold (c+)" rating on shares of Cirrus Logic in a research report on Friday, March 27th. Zacks Research downgraded Cirrus Logic from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. KeyCorp raised their price target on Cirrus Logic from $150.00 to $175.00 and gave the company an "overweight" rating in a report on Monday, April 6th. Loop Capital downgraded Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price target on the stock. in a research note on Monday, February 2nd. Finally, Benchmark upped their price objective on Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $152.14.

Insider Activity at Cirrus Logic

In related news, EVP Scott Thomas sold 9,942 shares of Cirrus Logic stock in a transaction 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 transaction, the executive vice president directly owned 30,393 shares of the company's stock, valued at approximately $4,866,223.23. The trade was a 24.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Justin E. Dougherty sold 3,000 shares of the business's stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total value of $429,480.00. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,181 shares of company stock valued at $2,480,033 over the last ninety days. 1.16% of the stock is currently owned by company insiders.

Cirrus Logic Trading Down 2.1%

CRUS stock opened at $167.69 on Thursday. The company's 50-day moving average price is $149.53 and its 200 day moving average price is $134.50. Cirrus Logic, Inc. has a 52 week low of $91.32 and a 52 week high of $175.77. The company has a market cap of $8.55 billion, a P/E ratio of 22.09 and a beta of 1.16.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.37 by $0.60. The company had revenue of $580.62 million during the quarter, compared to the consensus estimate of $531.43 million. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The company's revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the firm earned $2.51 EPS. On average, equities research analysts expect that Cirrus Logic, Inc. will post 7.76 earnings per share for the current year.

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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