SG Americas Securities LLC Has $2.35 Million Position in Cirrus Logic, Inc. $CRUS

Key Points

• SG Americas Securities LLC88.4% in Q4, selling 151,377 shares and retaining 19,788 shares worth $2.345 million.
• Insider selling was notable last quarter — insiders sold 28,045 shares totaling about $3.84 million, including CEO John Forsyth's sale of 21,806 shares for ~$2.95 million that cut his ownership by roughly 30%.
• Company performance and analyst view: Cirrus Logic beat quarterly estimates with $2.97 EPS and $580.6M revenue; analysts have an average rating of "Moderate Buy" and a $146.86 price target while the stock trades near $147.

SG Americas Securities LLC trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 88.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,788 shares of the semiconductor company's stock after selling 151,377 shares during the quarter. SG Americas Securities LLC's holdings in Cirrus Logic were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans lifted its position in shares of Cirrus Logic by 102.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 25,341 shares of the semiconductor company's stock valued at $3,175,000 after acquiring an additional 12,828 shares during the period. Inspire Investing LLC grew its holdings in Cirrus Logic by 186.9% in the third quarter. Inspire Investing LLC now owns 13,241 shares of the semiconductor company's stock worth $1,659,000 after purchasing an additional 8,625 shares during the period. CWA Asset Management Group LLC bought a new stake in Cirrus Logic in the third quarter valued at $2,635,000. First Trust Advisors LP increased its stake in Cirrus Logic by 8.2% in the third quarter. First Trust Advisors LP now owns 308,735 shares of the semiconductor company's stock valued at $38,681,000 after purchasing an additional 23,440 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Cirrus Logic by 223.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 144,139 shares of the semiconductor company's stock valued at $17,080,000 after purchasing an additional 99,526 shares during the period. Institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on CRUS. Weiss Ratings restated a "hold (c+)" rating on shares of Cirrus Logic in a research note on Friday, March 27th. Benchmark increased their price target on Cirrus Logic from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their price objective on Cirrus Logic from $150.00 to $163.00 and gave the company a "buy" rating in a research note on Wednesday, February 4th. Loop Capital downgraded Cirrus Logic from a "buy" rating to a "hold" rating and set a $130.00 price objective for the company. in a report on Monday, February 2nd. Finally, Barclays increased their target price on Cirrus Logic from $110.00 to $120.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $146.86.

Insider Activity

In related news, CEO John Forsyth sold 21,806 shares of the firm's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the transaction, the chief executive officer directly owned 50,723 shares of the company's stock, valued at $6,855,213.45. This trade represents a 30.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Justin E. Dougherty sold 3,000 shares of the business's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the transaction, the executive vice president owned 5,876 shares in the company, valued at approximately $841,208.16. This trade represents a 33.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,045 shares of company stock worth $3,835,300 over the last quarter. Insiders own 1.16% of the company's stock.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $147.13 on Friday. The business's 50 day moving average is $138.75 and its 200 day moving average is $128.67. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $154.90. The stock has a market cap of $7.51 billion, a price-to-earnings ratio of 19.38 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.Cirrus Logic's quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.51 EPS. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company's product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.

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