Hsbc Holdings PLC lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 47.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,792 shares of the semiconductor company's stock after selling 11,371 shares during the period. Hsbc Holdings PLC's holdings in Cirrus Logic were worth $1,276,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in CRUS. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter worth approximately $28,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at $39,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at $46,000. R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter worth $47,000. Finally, Quent Capital LLC grew its position in Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after purchasing an additional 296 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.
Cirrus Logic Trading Up 2.8 %
Shares of CRUS opened at $98.20 on Friday. The firm has a market capitalization of $5.22 billion, a PE ratio of 17.82 and a beta of 0.95. The stock's 50 day moving average is $95.38 and its two-hundred day moving average is $102.27. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates 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, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have recently weighed in on CRUS. Benchmark reiterated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays decreased their price objective 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. Finally, Stifel Nicolaus dropped their target price on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating on the stock in a 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's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $123.86.
View Our Latest Stock Report on Cirrus Logic
Insider Activity
In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 completion of the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.02% of the company's stock.
Cirrus Logic Profile
(
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.
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