Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,303 shares of the semiconductor company's stock after selling 3,286 shares during the period. CANADA LIFE ASSURANCE Co owned about 0.09% of Cirrus Logic worth $4,606,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic in the 4th quarter valued at $28,000. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic in the third quarter worth approximately $35,000. Headlands Technologies LLC bought a new stake in shares of Cirrus Logic during the fourth quarter worth $39,000. Sound Income Strategies LLC purchased a new position in shares of Cirrus Logic during the fourth quarter worth approximately $46,000. Finally, R Squared Ltd purchased a new stake in shares of Cirrus Logic in the 4th quarter worth $47,000. 87.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRUS shares. Barclays reduced their price objective on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Benchmark reaffirmed a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their price target on Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $123.86.

Cirrus Logic Trading Up 0.3 %

Shares of NASDAQ CRUS traded up $0.26 during trading on Monday, reaching $93.67. The company had a trading volume of 372,465 shares, compared to its average volume of 624,084. The stock has a market capitalization of $4.98 billion, a PE ratio of 17.00 and a beta of 0.95. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46. The stock has a 50-day moving average price of $96.80 and a two-hundred day moving average price of $102.93.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

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 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.