Fuller & Thaler Asset Management Inc. Reduces Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Fuller & Thaler Asset Management Inc. trimmed its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 21.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,586,341 shares of the semiconductor company's stock after selling 421,053 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 2.98% of Cirrus Logic worth $157,968,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CRUS. Arizona State Retirement System increased its stake in shares of Cirrus Logic by 0.7% during the 4th quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock worth $1,543,000 after purchasing an additional 101 shares in the last quarter. Truvestments Capital LLC increased its position in Cirrus Logic by 3.5% during the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after buying an additional 133 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 153 shares during the last quarter. Covestor Ltd boosted its stake in shares of Cirrus Logic by 21.5% during the fourth quarter. Covestor Ltd now owns 1,057 shares of the semiconductor company's stock valued at $106,000 after acquiring an additional 187 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC boosted its stake in shares of Cirrus Logic by 40.0% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 200 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Benchmark restated a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays decreased their target price on shares of Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Stifel Nicolaus reduced their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $123.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.02% of the company's stock.

Cirrus Logic Price Performance

NASDAQ:CRUS traded down $0.94 during trading hours on Monday, reaching $92.47. 76,114 shares of the company were exchanged, compared to its average volume of 622,946. The firm has a market cap of $4.91 billion, a price-to-earnings ratio of 16.81 and a beta of 0.95. The stock has a 50 day simple moving average of $96.80 and a 200 day simple moving average of $102.93. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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, analysts predict 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.