Choreo LLC Invests $311,000 in Cirrus Logic, Inc. (NASDAQ:CRUS)

Choreo LLC bought a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,440 shares of the semiconductor company’s stock, valued at approximately $311,000.

Several other institutional investors and hedge funds have also bought and sold shares of CRUS. Norges Bank purchased a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $51,890,000. Balyasny Asset Management L.P. grew its holdings in Cirrus Logic by 307.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock worth $58,777,000 after acquiring an additional 533,019 shares during the last quarter. LSV Asset Management increased its position in shares of Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after acquiring an additional 486,086 shares during the period. Kodai Capital Management LP bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $27,072,000. Finally, Acadian Asset Management LLC raised its stake in shares of Cirrus Logic by 68.6% during the first quarter. Acadian Asset Management LLC now owns 460,681 shares of the semiconductor company’s stock valued at $42,619,000 after acquiring an additional 187,438 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction 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 directly owns 4,004 shares in the company, valued at $544,704.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares of the company’s stock, valued at $637,212.98. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $123.80 on Wednesday. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46. The company has a market capitalization of $6.62 billion, a PE ratio of 25.11 and a beta of 0.97. The firm’s 50-day moving average price is $134.90 and its 200-day moving average price is $114.67.

Cirrus Logic (NASDAQ:CRUS) last announced its 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 net margin of 16.31% and a return on equity of 17.42%. The business had revenue of $374.03 million during the quarter, compared to the consensus estimate of $318.41 million. During the same quarter last year, the firm earned $0.35 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. StockNews.com downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 15th. Stifel Nicolaus raised their price target on Cirrus Logic from $110.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Susquehanna boosted their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Barclays raised their target price on shares of Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $143.33.

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.