Disciplined Equity Management Inc. Takes $83,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Disciplined Equity Management Inc. acquired a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,000 shares of the semiconductor company’s stock, valued at approximately $83,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRUS. Linden Thomas Advisory Services LLC boosted its holdings in shares of Cirrus Logic by 2.1% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock worth $1,470,000 after purchasing an additional 363 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cirrus Logic by 9.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,495 shares of the semiconductor company’s stock worth $956,000 after purchasing an additional 984 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after purchasing an additional 35,722 shares during the period. Vontobel Holding Ltd. purchased a new stake in shares of Cirrus Logic during the fourth quarter worth about $213,000. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Cirrus Logic during the fourth quarter worth about $1,256,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Up 2.4 %

Shares of CRUS stock traded up $2.04 during trading hours on Wednesday, hitting $86.29. 429,495 shares of the company’s stock traded hands, compared to its average volume of 416,146. The stock’s fifty day simple moving average is $90.22 and its two-hundred day simple moving average is $81.94. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $95.87. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of 27.39 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The company had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, equities analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In related news, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock valued at $700,292 over the last 90 days. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on CRUS. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Barclays raised their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. TD Cowen raised their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $96.43.

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 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 digital signal processing; boosted amplifiers; 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.