Guggenheim Capital LLC Sells 9,098 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Guggenheim Capital LLC reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 47.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,888 shares of the semiconductor company's stock after selling 9,098 shares during the quarter. Guggenheim Capital LLC's holdings in Cirrus Logic were worth $985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. XTX Topco Ltd purchased a new stake in Cirrus Logic in the fourth quarter worth $353,000. Harber Asset Management LLC increased its position in Cirrus Logic by 14.8% in the fourth quarter. Harber Asset Management LLC now owns 63,642 shares of the semiconductor company's stock worth $6,337,000 after buying an additional 8,187 shares during the last quarter. Mariner LLC grew its position in shares of Cirrus Logic by 32.0% in the fourth quarter. Mariner LLC now owns 6,648 shares of the semiconductor company's stock valued at $662,000 after purchasing an additional 1,610 shares in the last quarter. Barclays PLC grew its position in shares of Cirrus Logic by 0.9% in the fourth quarter. Barclays PLC now owns 99,414 shares of the semiconductor company's stock valued at $9,899,000 after purchasing an additional 932 shares in the last quarter. Finally, Optimize Financial Inc purchased a new position in shares of Cirrus Logic in the fourth quarter valued at $1,303,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Stock Performance

Cirrus Logic stock traded up $0.26 during midday trading on Monday, hitting $93.67. 372,465 shares of the company's stock were exchanged, compared to its average volume of 624,084. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The stock has a 50-day moving average price of $96.44 and a two-hundred day moving average price of $102.75. The company has a market cap of $4.98 billion, a P/E ratio of 17.00 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRUS. Barclays reduced their price target on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Benchmark reiterated a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus reduced their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $123.86.

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.