Oak Thistle LLC Sells 8,798 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Oak Thistle LLC decreased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 32.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,334 shares of the semiconductor company's stock after selling 8,798 shares during the period. Oak Thistle LLC's holdings in Cirrus Logic were worth $1,826,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRUS. Huntington National Bank increased its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock worth $26,000 after acquiring an additional 210 shares during the period. Nisa Investment Advisors LLC increased 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 worth $30,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC acquired a new position in shares of Cirrus Logic during the third quarter valued at about $31,000. Westside Investment Management Inc. acquired a new position in shares of Cirrus Logic during the third quarter valued at about $35,000. Finally, GAMMA Investing LLC lifted its stake in shares of Cirrus Logic by 81.2% in the third quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company's stock valued at $107,000 after buying an additional 385 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Up 0.6 %

CRUS stock traded up $0.57 during trading on Wednesday, hitting $101.91. 444,543 shares of the stock traded hands, compared to its average volume of 633,919. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 17.27 and a beta of 0.93. Cirrus Logic, Inc. has a one year low of $75.92 and a one year high of $147.46. The company has a 50 day simple moving average of $103.28 and a 200 day simple moving average of $119.78.

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

Wall Street Analysts Forecast Growth

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

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.