Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Barclays PLC

Barclays PLC cut its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 16.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 98,482 shares of the semiconductor company's stock after selling 19,739 shares during the period. Barclays PLC owned 0.19% of Cirrus Logic worth $12,235,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. FMR LLC grew its position in Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after acquiring an additional 217,404 shares during the period. LSV Asset Management grew its holdings in shares of Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company's stock worth $241,340,000 after purchasing an additional 486,086 shares during the period. Earnest Partners LLC increased its position in Cirrus Logic by 3.0% during the 2nd quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company's stock worth $173,380,000 after purchasing an additional 39,759 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Cirrus Logic by 32.3% in the third quarter. Pacer Advisors Inc. now owns 880,446 shares of the semiconductor company's stock valued at $109,360,000 after buying an additional 215,126 shares during the period. Finally, Sei Investments Co. lifted its position in Cirrus Logic by 8.6% during the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company's stock valued at $96,587,000 after buying an additional 59,690 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Cirrus Logic Trading Down 1.0 %

NASDAQ CRUS traded down $1.08 during mid-day trading on Monday, reaching $105.63. 545,027 shares of the company's stock traded hands, compared to its average volume of 522,801. The company has a fifty day simple moving average of $110.76 and a 200-day simple moving average of $122.87. The company has a market cap of $5.61 billion, a price-to-earnings ratio of 18.09 and a beta of 0.93. Cirrus Logic, Inc. has a 1-year low of $75.92 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The company had revenue of $541.90 million during the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the previous year, the firm earned $1.43 EPS. The company's revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CRUS. Barclays cut their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating on the stock in a research note on Tuesday, November 5th. StockNews.com raised Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price for the company. Stifel Nicolaus dropped their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. Finally, Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic has an average rating of "Moderate Buy" and an average price target of $132.50.

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.