Globeflex Capital L P Sells 4,573 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Globeflex Capital L P reduced its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 8.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 51,701 shares of the semiconductor company's stock after selling 4,573 shares during the quarter. Globeflex Capital L P owned approximately 0.10% of Cirrus Logic worth $5,148,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Huntington National Bank increased its holdings in 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 purchasing an additional 210 shares during the period. Westside Investment Management Inc. bought a new stake in shares of Cirrus Logic in the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC bought a new stake in Cirrus Logic during the fourth quarter valued at $28,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic during the 4th quarter worth about $46,000. Finally, R Squared Ltd bought a new position in shares of Cirrus Logic in the 4th quarter worth about $47,000. Institutional investors own 87.96% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Benchmark restated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Barclays lifted their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $132.86.

Remove Ads

Cirrus Logic Trading Up 0.2 %

NASDAQ CRUS traded up $0.19 during mid-day trading on Wednesday, hitting $101.05. The company's stock had a trading volume of 339,890 shares, compared to its average volume of 564,809. The firm has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.34 and a beta of 0.89. The company's 50 day simple moving average is $103.57 and its 200 day simple moving average is $110.15. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) 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%. As a group, research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% 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 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.