Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by LSV Asset Management

LSV Asset Management lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 0.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,296,519 shares of the semiconductor company's stock after selling 10,900 shares during the quarter. LSV Asset Management owned about 2.41% of Cirrus Logic worth $107,857,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC grew its position in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company's stock valued at $31,000 after purchasing an additional 178 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 71.1% during the third quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company's stock worth $53,000 after acquiring an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Cirrus Logic during the third quarter worth about $62,000. Disciplined Equity Management Inc. acquired a new stake in shares of Cirrus Logic in the 4th quarter worth about $83,000. Finally, Covestor Ltd lifted its position in Cirrus Logic by 13.2% in the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company's stock valued at $110,000 after acquiring an additional 174 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on CRUS shares. TheStreet raised Cirrus Logic from a "c+" rating to a "b-" rating in a research note on Tuesday, January 23rd. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a "buy" rating in a research note on Wednesday, February 7th. Barclays raised their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, January 16th. Susquehanna upped their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a "positive" rating in a research report on Wednesday, February 7th. Finally, TD Cowen upped their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $96.43.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock traded up $2.57 on Friday, reaching $88.48. 325,867 shares of the company traded hands, compared to its average volume of 312,806. The firm has a market capitalization of $4.77 billion, a PE ratio of 28.09 and a beta of 0.99. The company has a 50 day moving average of $89.67 and a 200 day moving average of $82.68. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, analysts anticipate that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

Insider Activity

In related news, SVP Justin E. Dougherty sold 3,280 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares of the company's stock, valued at $548,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm's stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares of the company's stock, valued at approximately $150,765. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Justin E. Dougherty sold 3,280 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 in the last three months. Corporate insiders own 0.89% 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 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 digital signal processing; boosted amplifiers; 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.