Dynamic Technology Lab Private Ltd lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 32.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,499 shares of the semiconductor company's stock after selling 7,063 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Cirrus Logic were worth $1,444,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CRUS. Allianz Asset Management GmbH lifted its position in shares of Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company's stock worth $104,049,000 after buying an additional 604,431 shares during the last quarter. Norges Bank purchased a new stake in shares of Cirrus Logic in the fourth quarter valued at about $58,723,000. Pacer Advisors Inc. boosted its stake in shares of Cirrus Logic by 44.0% during the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company's stock worth $126,247,000 after buying an additional 387,346 shares during the period. Jupiter Asset Management Ltd. grew its stake in shares of Cirrus Logic by 7,706.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company's stock valued at $24,893,000 after purchasing an additional 246,775 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Cirrus Logic by 443.5% in 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 buying an additional 178,469 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Benchmark reissued a "buy" rating and set a $125.00 price target on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Cirrus Logic currently has a consensus rating of "Moderate Buy" and an average price target of $132.86.
View Our Latest Analysis on CRUS
Insider Activity at Cirrus Logic
In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's stock in a transaction dated 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 directly owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.02% of the company's stock.
Cirrus Logic Stock Down 6.7 %
Shares of Cirrus Logic stock traded down $6.07 during trading hours on Thursday, hitting $84.16. The company's stock had a trading volume of 337,412 shares, compared to its average volume of 609,319. The business has a fifty day moving average of $101.20 and a 200 day moving average of $105.80. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The company has a market capitalization of $4.47 billion, a PE ratio of 15.29 and a beta of 0.95.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.
Cirrus Logic Profile
(
Free Report)
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.
Featured Articles
Before you consider Cirrus Logic, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cirrus Logic wasn't on the list.
While Cirrus Logic currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
