Global X Japan Co. Ltd. Takes Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Global X Japan Co. Ltd. purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,115 shares of the semiconductor company’s stock, valued at approximately $635,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Stonegate Investment Group LLC increased its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares during the last quarter. Profund Advisors LLC increased its stake in Cirrus Logic by 2.0% during the second quarter. Profund Advisors LLC now owns 5,271 shares of the semiconductor company’s stock valued at $673,000 after purchasing an additional 103 shares during the last quarter. Arkadios Wealth Advisors increased its stake in Cirrus Logic by 2.8% during the second quarter. Arkadios Wealth Advisors now owns 4,413 shares of the semiconductor company’s stock valued at $563,000 after purchasing an additional 119 shares during the last quarter. Oak Associates Ltd. OH lifted its position in shares of Cirrus Logic by 0.4% in the 2nd quarter. Oak Associates Ltd. OH now owns 34,176 shares of the semiconductor company’s stock worth $4,363,000 after buying an additional 134 shares during the last quarter. Finally, Holderness Investments Co. boosted its holdings in shares of Cirrus Logic by 0.3% in the 2nd quarter. Holderness Investments Co. now owns 47,366 shares of the semiconductor company’s stock valued at $6,047,000 after buying an additional 155 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $124.07 on Wednesday. The stock has a market cap of $6.63 billion, a PE ratio of 25.17 and a beta of 0.96. The business’s fifty day moving average is $130.05 and its 200-day moving average is $120.30. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same period in the previous year, the company earned $0.35 earnings per share. Cirrus Logic’s revenue was up 18.0% compared to the same quarter last year. Equities research analysts predict that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction on Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRUS shares. KeyCorp increased their price objective on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $140.00 to $120.00 in a research report on Thursday, October 10th. Stifel Nicolaus increased their target price on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Finally, Susquehanna reduced their price target on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating for the company in a report on Monday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $137.50.

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.