LSV Asset Management Has $241.34 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

LSV Asset Management lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 34.6% during the second quarter, Holdings Channel.com reports. The firm owned 1,890,493 shares of the semiconductor company’s stock after buying an additional 486,086 shares during the quarter. LSV Asset Management’s holdings in Cirrus Logic were worth $241,340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in CRUS. Victory Capital Management Inc. increased its stake in shares of Cirrus Logic by 15.3% during the fourth quarter. Victory Capital Management Inc. now owns 11,517 shares of the semiconductor company’s stock worth $958,000 after purchasing an additional 1,531 shares during the period. Natixis Advisors L.P. increased its stake in shares of Cirrus Logic by 24.5% during the fourth quarter. Natixis Advisors L.P. now owns 62,823 shares of the semiconductor company’s stock worth $5,226,000 after purchasing an additional 12,377 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Cirrus Logic by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 563,421 shares of the semiconductor company’s stock worth $46,871,000 after purchasing an additional 8,607 shares during the period. Versor Investments LP increased its stake in shares of Cirrus Logic by 92.0% during the fourth quarter. Versor Investments LP now owns 7,510 shares of the semiconductor company’s stock worth $625,000 after purchasing an additional 3,598 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Cirrus Logic by 7.3% during the fourth quarter. Teacher Retirement System of Texas now owns 13,123 shares of the semiconductor company’s stock worth $1,092,000 after purchasing an additional 889 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent research reports. Susquehanna raised their price objective on Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $143.33.

Insider Activity

In related news, SVP Scott Thomas sold 11,706 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the sale, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP Scott Thomas sold 11,706 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total value of $1,413,148.32. Following the completion of the transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at $2,894,262. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Andrew Brannan sold 4,350 shares of Cirrus Logic stock in a transaction that occurred 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 sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,259 shares of company stock worth $3,348,759. Insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Down 4.3 %

Shares of CRUS traded down $5.89 during midday trading on Friday, hitting $132.32. The company’s stock had a trading volume of 411,644 shares, compared to its average volume of 463,823. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $147.46. The company’s fifty day simple moving average is $134.49 and its two-hundred day simple moving average is $112.78. The stock has a market capitalization of $7.07 billion, a price-to-earnings ratio of 26.84 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. During the same quarter last year, the company posted $0.35 EPS. The company’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, research analysts predict that Cirrus Logic, Inc. will post 5.19 earnings per share for the current year.

Cirrus Logic Company 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.