Amalgamated Bank Reduces Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Amalgamated Bank reduced its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 24.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,525 shares of the semiconductor company's stock after selling 8,246 shares during the period. Amalgamated Bank's holdings in Cirrus Logic were worth $3,170,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CRUS. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after acquiring an additional 120 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Cirrus Logic in the 3rd quarter valued at about $31,000. Versant Capital Management Inc raised its stake in Cirrus Logic by 1,911.1% during the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after buying an additional 344 shares during the period. GAMMA Investing LLC boosted its holdings in Cirrus Logic by 79.5% in the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after acquiring an additional 210 shares in the last quarter. Finally, 1620 Investment Advisors Inc. acquired a new stake in Cirrus Logic in the second quarter valued at approximately $77,000. 87.96% of the stock is owned by institutional investors.

Insider Activity

In related news, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CRUS. Stifel Nicolaus lowered their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research report on Tuesday, November 5th. StockNews.com lowered shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Wednesday. KeyCorp boosted their target price on shares of Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Susquehanna cut their price target on Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a research note on Tuesday, November 5th. Finally, Barclays decreased their price objective on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.00.

Cirrus Logic Trading Up 0.2 %

Shares of CRUS traded up $0.16 during trading hours on Friday, reaching $103.71. 624,917 shares of the stock traded hands, compared to its average volume of 748,838. Cirrus Logic, Inc. has a 52 week low of $69.23 and a 52 week high of $147.46. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 17.58 and a beta of 0.96. The stock has a fifty day simple moving average of $122.47 and a 200 day simple moving average of $122.64.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $2.02 by $0.23. The firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company's revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.43 EPS. Analysts predict that Cirrus Logic, Inc. will post 5.37 earnings per share for the current fiscal year.

About Cirrus Logic

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.