Gotham Asset Management LLC Sells 18,730 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Gotham Asset Management LLC decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 31.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,075 shares of the semiconductor company's stock after selling 18,730 shares during the quarter. Gotham Asset Management LLC owned approximately 0.08% of Cirrus Logic worth $3,991,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter worth $28,000. Headlands Technologies LLC bought a new stake in shares of Cirrus Logic during the 4th quarter worth about $39,000. Sound Income Strategies LLC bought a new stake in shares of Cirrus Logic during the 4th quarter worth about $46,000. R Squared Ltd acquired a new position in shares of Cirrus Logic during the 4th quarter valued at about $47,000. Finally, Quent Capital LLC increased its holdings in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock valued at $47,000 after acquiring an additional 296 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRUS. Barclays upped their target price on Cirrus Logic from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 7th. Benchmark restated a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Cirrus Logic in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and an average price target of $128.33.

Cirrus Logic Price Performance

CRUS stock traded up $0.07 on Tuesday, reaching $105.52. 100,569 shares of the company were exchanged, compared to its average volume of 628,242. The firm has a market capitalization of $5.61 billion, a PE ratio of 19.19 and a beta of 0.92. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The stock's fifty day moving average price is $95.14 and its 200 day moving average price is $100.70.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.52. The company had revenue of $424.46 million for the quarter, compared to analyst estimates of $380.26 million. Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. The business's quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. As a group, research analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic declared that its Board of Directors has approved a share repurchase plan on Tuesday, May 6th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the semiconductor company to purchase up to 9.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its stock is undervalued.

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 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.