Venturi Wealth Management LLC Increases Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Venturi Wealth Management LLC lifted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 34.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,464 shares of the semiconductor company’s stock after acquiring an additional 374 shares during the period. Venturi Wealth Management LLC’s holdings in Cirrus Logic were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRUS. Huntington National Bank raised its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the period. Westside Investment Management Inc. acquired a new position in Cirrus Logic in the 3rd quarter worth approximately $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic in the 4th quarter worth approximately $46,000. Finally, R Squared Ltd acquired a new position in Cirrus Logic in the 4th quarter worth approximately $47,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRUS. Susquehanna increased their price target 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 increased their price target 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. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target 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. Finally, Stifel Nicolaus cut their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $109.07 on Friday. The stock has a market capitalization of $5.80 billion, a price-to-earnings ratio of 19.79 and a beta of 0.91. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The firm’s 50 day simple moving average is $103.00 and its 200-day simple moving average is $114.58.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal 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.