Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Invesco Ltd.

Invesco Ltd. lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 25.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 606,708 shares of the semiconductor company's stock after selling 211,947 shares during the period. Invesco Ltd. owned approximately 1.14% of Cirrus Logic worth $60,416,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. National Bank of Canada FI purchased a new position in Cirrus Logic in the third quarter valued at about $186,000. MML Investors Services LLC raised its holdings in shares of Cirrus Logic by 5.4% during the 3rd quarter. MML Investors Services LLC now owns 4,119 shares of the semiconductor company's stock valued at $512,000 after buying an additional 212 shares during the period. M&T Bank Corp lifted its position in Cirrus Logic by 22.1% during the 3rd quarter. M&T Bank Corp now owns 2,074 shares of the semiconductor company's stock worth $258,000 after acquiring an additional 376 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock worth $141,414,000 after acquiring an additional 50,582 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Cirrus Logic in the third quarter valued at approximately $941,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Trading Up 0.1 %

Cirrus Logic stock traded up $0.06 during midday trading on Friday, hitting $85.58. The stock had a trading volume of 519,758 shares, compared to its average volume of 620,135. The business has a fifty day moving average price of $98.66 and a 200 day moving average price of $104.20. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The stock has a market cap of $4.55 billion, a P/E ratio of 15.53 and a beta of 0.95.

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 (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%. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday. Barclays upped their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Benchmark reaffirmed a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.86.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction 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. The trade was 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 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.