Truvestments Capital LLC Has $396,000 Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Truvestments Capital LLC grew its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,981 shares of the semiconductor company’s stock after purchasing an additional 133 shares during the period. Truvestments Capital LLC’s holdings in Cirrus Logic were worth $396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRUS. US Bancorp DE raised its holdings in shares of Cirrus Logic by 36.1% in the third quarter. US Bancorp DE now owns 1,800 shares of the semiconductor company’s stock valued at $224,000 after purchasing an additional 477 shares during the last quarter. Atria Investments Inc increased its holdings in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock worth $447,000 after buying an additional 101 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Cirrus Logic by 44.2% during the third quarter. Venturi Wealth Management LLC now owns 1,090 shares of the semiconductor company’s stock worth $135,000 after buying an additional 334 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. acquired a new position in Cirrus Logic during the third quarter worth $415,000. Finally, Victory Capital Management Inc. increased its holdings in Cirrus Logic by 165.6% during the third quarter. Victory Capital Management Inc. now owns 44,681 shares of the semiconductor company’s stock worth $5,550,000 after buying an additional 27,856 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna boosted their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Barclays boosted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $97.89 on Thursday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company has a market cap of $5.20 billion, a P/E ratio of 17.77 and a beta of 0.89. The firm’s fifty day moving average price is $103.74 and its two-hundred day moving average price is $111.60.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 5.63 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.