Legal & General Group Plc Lowers Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Legal & General Group Plc decreased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 108,438 shares of the semiconductor company's stock after selling 5,609 shares during the quarter. Legal & General Group Plc owned approximately 0.20% of Cirrus Logic worth $10,798,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of Cirrus Logic by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company's stock valued at $163,639,000 after acquiring an additional 65,441 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock worth $126,247,000 after purchasing an additional 387,346 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cirrus Logic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,171,483 shares of the semiconductor company's stock worth $116,684,000 after purchasing an additional 33,204 shares during the period. Allianz Asset Management GmbH grew its holdings in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock valued at $104,049,000 after buying an additional 604,431 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Cirrus Logic by 8.4% during the fourth quarter. Sei Investments Co. now owns 830,180 shares of the semiconductor company's stock valued at $82,672,000 after buying an additional 64,222 shares during the last quarter. Institutional investors own 87.96% of the company's stock.

Cirrus Logic Trading Up 1.1 %

Shares of NASDAQ:CRUS traded up $0.96 during trading on Tuesday, reaching $86.74. The company's stock had a trading volume of 463,406 shares, compared to its average volume of 621,869. The stock has a market capitalization of $4.61 billion, a PE ratio of 15.74 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46. The firm's 50 day simple moving average is $97.89 and its two-hundred day simple moving average is $103.62.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS 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%. Research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were 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 of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CRUS shares. Stifel Nicolaus dropped 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 report on Thursday, April 17th. Barclays dropped their price objective on shares of Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Benchmark reaffirmed a "buy" rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.