SG Americas Securities LLC Sells 6,257 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

SG Americas Securities LLC decreased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 81.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,416 shares of the semiconductor company's stock after selling 6,257 shares during the period. SG Americas Securities LLC's holdings in Cirrus Logic were worth $141,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CRUS. GAMMA Investing LLC increased its position in Cirrus Logic by 81.2% in the 3rd quarter. GAMMA Investing LLC now owns 859 shares of the semiconductor company's stock valued at $107,000 after acquiring an additional 385 shares during the period. CWM LLC increased its position in shares of Cirrus Logic by 39.6% during the 3rd quarter. CWM LLC now owns 5,080 shares of the semiconductor company's stock valued at $631,000 after purchasing an additional 1,440 shares during the period. Ritholtz Wealth Management increased its position in shares of Cirrus Logic by 41.8% during the 3rd quarter. Ritholtz Wealth Management now owns 3,772 shares of the semiconductor company's stock valued at $469,000 after purchasing an additional 1,112 shares during the period. Creative Planning increased its position in shares of Cirrus Logic by 35.7% during the 3rd quarter. Creative Planning now owns 10,200 shares of the semiconductor company's stock valued at $1,267,000 after purchasing an additional 2,682 shares during the period. Finally, Kapitalo Investimentos Ltda increased its position in shares of Cirrus Logic by 76.9% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 2,963 shares of the semiconductor company's stock valued at $368,000 after purchasing an additional 1,288 shares during the period. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price target on 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 began coverage on Cirrus Logic in a report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 target price on the stock. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Tuesday, November 5th. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a report on Tuesday, December 3rd. Finally, Benchmark upgraded 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. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $132.86.

Insider Activity at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company's stock.

Cirrus Logic Stock Up 2.0 %

Shares of Cirrus Logic stock traded up $2.11 during midday trading on Friday, hitting $109.06. The company's stock had a trading volume of 748,461 shares, compared to its average volume of 790,429. The firm has a market capitalization of $5.80 billion, a P/E ratio of 19.79 and a beta of 0.91. The stock has a 50-day simple moving average of $102.58 and a 200-day simple moving average of $114.98. 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 earnings results 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 return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Cirrus Logic Company 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.