Outlook Wealth Advisors LLC Takes $284,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Outlook Wealth Advisors LLC acquired a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,069 shares of the semiconductor company’s stock, valued at approximately $284,000.

Other large investors have also bought and sold shares of the company. Venturi Wealth Management LLC boosted its holdings in Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after acquiring an additional 178 shares during the last quarter. Atlas Capital Advisors LLC increased its stake in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in 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 acquiring an additional 214 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Cirrus Logic by 71.1% in the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in Cirrus Logic in the third quarter valued at $62,000. 87.96% of the stock is owned by institutional investors.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the sale, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRUS has been the subject of several research reports. Susquehanna raised their target price on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, February 7th. TD Cowen upped their target price on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Barclays lifted their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Stifel Nicolaus raised their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Finally, StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 20th. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $96.43.

Cirrus Logic Price Performance

Shares of CRUS stock traded up $1.22 on Friday, hitting $88.53. The stock had a trading volume of 203,839 shares, compared to its average volume of 290,730. The business has a 50 day moving average of $90.05 and a 200 day moving average of $82.00. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $95.87. The stock has a market cap of $4.77 billion, a price-to-earnings ratio of 28.10 and a beta of 1.00.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. As a group, research analysts expect that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Cirrus Logic 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 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 digital signal processing; boosted amplifiers; 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.