Amundi Decreases Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Amundi decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 48.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 82,547 shares of the semiconductor company's stock after selling 78,288 shares during the period. Amundi owned about 0.16% of Cirrus Logic worth $8,684,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank increased its position in shares of Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after acquiring an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic in the fourth quarter worth about $28,000. Westside Investment Management Inc. bought a new position in Cirrus Logic during the 3rd quarter valued at approximately $35,000. Sound Income Strategies LLC purchased a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd bought a new position in shares of Cirrus Logic during the fourth quarter valued at approximately $47,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.02% of the stock is currently owned by insiders.

Remove Ads

Analyst Ratings Changes

Several brokerages have commented on CRUS. Susquehanna upped their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. Barclays raised their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Wednesday, February 5th. Finally, StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $132.86.

Cirrus Logic Trading Up 0.5 %

Cirrus Logic stock traded up $0.53 during mid-day trading on Tuesday, hitting $100.86. The company had a trading volume of 407,672 shares, compared to its average volume of 564,941. Cirrus Logic, Inc. has a 12 month low of $81.30 and a 12 month high of $147.46. The stock's 50 day moving average price is $103.65 and its two-hundred day moving average price is $110.47. The company has a market capitalization of $5.36 billion, a PE ratio of 18.30 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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.