Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 61.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,400 shares of the semiconductor company’s stock after purchasing an additional 23,016 shares during the period. Lazard Asset Management LLC owned about 0.11% of Cirrus Logic worth $5,590,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Venturi Wealth Management LLC increased its position in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Atlas Capital Advisors LLC grew 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 during the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after buying an additional 214 shares during the last quarter. Disciplined Equity Management Inc. purchased a new position in shares of Cirrus Logic during the fourth quarter worth about $83,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cirrus Logic during the first quarter worth about $176,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $130.99 on Monday. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $142.83. The company has a market capitalization of $7.00 billion, a P/E ratio of 26.22 and a beta of 0.94. The business has a 50 day moving average price of $125.48 and a 200 day moving average price of $102.09.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.48. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. The firm had revenue of $371.83 million during the quarter, compared to the consensus estimate of $320.14 million. As a group, research analysts expect that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. TD Cowen raised their price target on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Barclays raised their price target on Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. KeyCorp lifted their price objective on Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Finally, StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and an average target price of $128.57.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the transaction, the senior vice president now directly owns 5,838 shares in the company, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the transaction, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the completion of the transaction, the senior vice president now owns 5,838 shares of the company’s stock, valued at $629,628.30. The disclosure for this sale can be found here. In the last three months, insiders sold 18,706 shares of company stock worth $2,187,098. Insiders own 1.02% of the company’s stock.

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.