Los Angeles Capital Management LLC Sells 8,212 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Los Angeles Capital Management LLC lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,960 shares of the semiconductor company's stock after selling 8,212 shares during the period. Los Angeles Capital Management LLC owned approximately 0.13% of Cirrus Logic worth $8,938,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on CRUS. StockNews.com cut Cirrus Logic from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Loop Capital assumed coverage on shares of Cirrus Logic in a research note on Tuesday. They issued a "buy" rating and a $130.00 target price on the stock. Barclays decreased their target price on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research note on Tuesday, November 5th. KeyCorp upped their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a report on Wednesday, August 7th. Finally, Susquehanna reduced their target price on Cirrus Logic from $160.00 to $135.00 and set a "positive" rating for the company in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $131.67.

Insider Activity

In other news, VP Andrew Brannan sold 4,350 shares of the firm's stock in a transaction that occurred on 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 sale, the vice president now owns 4,004 shares of the company's stock, valued at $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Trading Down 0.1 %

CRUS traded down $0.06 on Tuesday, hitting $104.65. 349,671 shares of the company's stock were exchanged, compared to its average volume of 508,956. Cirrus Logic, Inc. has a twelve month low of $71.60 and a twelve month high of $147.46. The firm has a market cap of $5.56 billion, a PE ratio of 17.75 and a beta of 0.96. The stock has a fifty day moving average of $121.65 and a two-hundred day moving average of $122.76.

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