First Trust Advisors LP cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,254 shares of the semiconductor company's stock after selling 18,986 shares during the quarter. First Trust Advisors LP owned 0.41% of Cirrus Logic worth $21,933,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. Virtu Financial LLC bought a new stake in shares of Cirrus Logic during the 3rd quarter valued at $941,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic during the third quarter worth about $35,000. Tidal Investments LLC grew its stake in Cirrus Logic by 118.7% during the third quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company's stock worth $1,834,000 after buying an additional 8,016 shares in the last quarter. Franklin Resources Inc. increased its holdings in Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after buying an additional 62,757 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock valued at $36,811,000 after buying an additional 69,006 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.
Cirrus Logic Trading Up 3.2 %
CRUS traded up $3.10 on Friday, reaching $98.64. The stock had a trading volume of 99,259 shares, compared to its average volume of 623,447. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 17.90 and a beta of 0.95. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The firm has a 50-day moving average of $95.57 and a 200-day moving average of $102.45.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.
Insider Activity
In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.02% of the company's stock.
Analyst Ratings Changes
CRUS has been the topic of a number of recent analyst reports. Benchmark reissued a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Stifel Nicolaus lowered their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, April 17th. Finally, Barclays reduced their price objective on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.86.
Check Out Our Latest Report on Cirrus Logic
About Cirrus Logic
(
Free Report)
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.
Further Reading
Before you consider Cirrus Logic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cirrus Logic wasn't on the list.
While Cirrus Logic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
