Lecap Asset Management Ltd. Has $2.11 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Lecap Asset Management Ltd. raised its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 316.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,009 shares of the semiconductor company’s stock after acquiring an additional 12,922 shares during the period. Lecap Asset Management Ltd.’s holdings in Cirrus Logic were worth $2,113,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. V Square Quantitative Management LLC bought a new stake in shares of Cirrus Logic in the 3rd quarter worth about $31,000. Atlas Capital Advisors LLC increased its holdings in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Cirrus Logic by 1,911.1% in the second 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 boosted its holdings in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after acquiring an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in Cirrus Logic during the 2nd quarter worth approximately $77,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

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

Analyst Ratings Changes

A number of research firms have commented on CRUS. KeyCorp boosted 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 lowered shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $140.00 to $120.00 in a report on Thursday, October 10th. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna decreased their price target on shares of Cirrus Logic from $175.00 to $160.00 and set a “positive” rating on the stock in a research note on Monday. Finally, StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.50.

Cirrus Logic Price Performance

CRUS opened at $124.07 on Wednesday. The firm has a 50 day simple moving average of $130.05 and a 200 day simple moving average of $120.30. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 25.17 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, beating 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 company had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. During the same quarter in the prior year, the business posted $0.35 EPS. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, analysts expect that Cirrus Logic, Inc. will post 5.26 EPS 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.