nVerses Capital LLC Invests $435,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

nVerses Capital LLC purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 3,500 shares of the semiconductor company’s stock, valued at approximately $435,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Atlas Capital Advisors LLC raised its stake in shares of Cirrus Logic by 103.0% during the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 344 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after acquiring an additional 210 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of Cirrus Logic during the 2nd quarter valued at about $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock valued at $123,000 after acquiring an additional 329 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Up 0.3 %

Shares of NASDAQ:CRUS opened at $122.87 on Friday. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46. The firm has a market capitalization of $6.57 billion, a PE ratio of 24.92 and a beta of 0.96. The business’s 50 day moving average is $130.61 and its 200-day moving average is $119.20.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping 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 firm earned $0.35 EPS. Cirrus Logic’s revenue for the quarter was up 18.0% compared to the same quarter last year. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 5.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRUS. Barclays lowered Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $140.00 to $120.00 in a report on Thursday, October 10th. KeyCorp increased their price objective on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna increased their price objective on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. Stifel Nicolaus raised their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Finally, StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $140.00.

Insider Transactions at Cirrus Logic

In other news, 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 of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at $637,212.98. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is owned by insiders.

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.