Martingale Asset Management L P Cuts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Martingale Asset Management L P reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 17.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,129 shares of the semiconductor company's stock after selling 7,993 shares during the quarter. Martingale Asset Management L P owned approximately 0.07% of Cirrus Logic worth $3,697,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter valued at about $28,000. Westside Investment Management Inc. bought a new position in Cirrus Logic during the 3rd quarter valued at approximately $35,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $39,000. Sound Income Strategies LLC bought a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $46,000. Finally, R Squared Ltd bought a new stake in shares of Cirrus Logic in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.02% of the stock is currently owned by company insiders.

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Cirrus Logic Stock Up 0.4 %

Shares of NASDAQ CRUS traded up $0.37 during trading on Tuesday, reaching $87.78. The company had a trading volume of 108,297 shares, compared to its average volume of 614,070. The business's 50-day moving average is $100.17 and its 200 day moving average is $104.95. The stock has a market cap of $4.67 billion, a PE ratio of 15.93 and a beta of 0.95. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46.

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%. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRUS. Benchmark reissued a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays increased their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $132.86.

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.