Cerity Partners LLC Trims Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Cerity Partners LLC trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 84.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,155 shares of the semiconductor company's stock after selling 16,714 shares during the period. Cerity Partners LLC's holdings in Cirrus Logic were worth $336,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CRUS. JPMorgan Chase & Co. grew its position in Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after acquiring an additional 69,006 shares during the last quarter. Burney Co. boosted its stake in shares of Cirrus Logic by 1,205.3% during the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock valued at $15,360,000 after purchasing an additional 142,430 shares during the period. KBC Group NV boosted its stake in shares of Cirrus Logic by 52.5% during the fourth quarter. KBC Group NV now owns 1,896 shares of the semiconductor company's stock valued at $189,000 after purchasing an additional 653 shares during the period. Franklin Resources Inc. boosted its stake in shares of Cirrus Logic by 60.1% during the third quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after purchasing an additional 62,757 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Cirrus Logic by 34.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company's stock valued at $13,202,000 after purchasing an additional 33,682 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CRUS shares. Benchmark reissued a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays dropped their price target on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Finally, Stifel Nicolaus dropped their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.86.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction that occurred 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 transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Price Performance

NASDAQ:CRUS traded down $0.72 during mid-day trading on Tuesday, hitting $92.95. 27,732 shares of the company's stock were exchanged, compared to its average volume of 704,727. Cirrus Logic, Inc. has a one year low of $75.83 and a one year high of $147.46. The business has a fifty day moving average price of $96.44 and a 200 day moving average price of $102.75. The company has a market cap of $4.94 billion, a PE ratio of 16.82 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted 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 return on equity of 16.60% and a net margin of 16.55%. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS 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.