Renaissance Technologies LLC Sells 43,300 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Renaissance Technologies LLC cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,620 shares of the semiconductor company's stock after selling 43,300 shares during the quarter. Renaissance Technologies LLC owned about 0.29% of Cirrus Logic worth $15,596,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRUS shares. Benchmark reissued a "buy" rating and issued a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays raised their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $128.86.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic Stock Performance

Shares of CRUS stock traded up $0.06 during trading on Friday, hitting $85.58. 519,758 shares of the company were exchanged, compared to its average volume of 618,592. The firm has a market capitalization of $4.55 billion, a price-to-earnings ratio of 15.53 and a beta of 0.95. The business's 50-day simple moving average is $99.02 and its 200 day simple moving average is $104.43. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its earnings results 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%. On average, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic 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.