Sanctuary Advisors LLC Sells 2,799 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Sanctuary Advisors LLC reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,051 shares of the semiconductor company's stock after selling 2,799 shares during the quarter. Sanctuary Advisors LLC's holdings in Cirrus Logic were worth $899,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CRUS. Pacer Advisors Inc. lifted its position in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock valued at $126,247,000 after purchasing an additional 387,346 shares during the last quarter. FMR LLC increased its position in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company's stock valued at $456,862,000 after acquiring an additional 217,404 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Cirrus Logic by 443.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company's stock valued at $21,742,000 after acquiring an additional 178,469 shares in the last quarter. Burney Co. raised its stake in Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company's stock valued at $15,360,000 after acquiring an additional 142,430 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new position in Cirrus Logic during the 3rd quarter worth $16,340,000. 87.96% of the stock is currently owned by institutional investors.

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Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated 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 owns 8,330 shares of the company's stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.02% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

Shares of CRUS stock traded down $2.67 during mid-day trading on Monday, reaching $101.54. The company's stock had a trading volume of 273,686 shares, compared to its average volume of 749,080. The company has a market cap of $5.40 billion, a P/E ratio of 18.43 and a beta of 0.91. The firm's 50-day moving average is $103.45 and its two-hundred day moving average is $113.54. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year 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%. Sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Susquehanna increased their target price on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research report on Monday, November 18th. Loop Capital started coverage on shares of Cirrus Logic in a research note on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective on the stock. Stifel Nicolaus cut their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Benchmark raised Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 target price on the stock in a report on Wednesday, February 5th. Finally, StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cirrus Logic has a consensus rating of "Moderate Buy" and a consensus target price 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.