Fox Run Management L.L.C. trimmed its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 45.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,718 shares of the semiconductor company's stock after selling 6,523 shares during the period. Fox Run Management L.L.C.'s holdings in Cirrus Logic were worth $769,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Caprock Group LLC bought a new stake in Cirrus Logic in the 3rd quarter worth about $306,000. Massachusetts Financial Services Co. MA grew its stake in shares of Cirrus Logic by 5.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 27,038 shares of the semiconductor company's stock worth $3,358,000 after acquiring an additional 1,445 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Cirrus Logic by 21.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock valued at $89,527,000 after purchasing an additional 129,457 shares during the last quarter. Citigroup Inc. lifted its position in Cirrus Logic by 137.1% during the third quarter. Citigroup Inc. now owns 32,650 shares of the semiconductor company's stock valued at $4,055,000 after purchasing an additional 18,877 shares during the period. Finally, Meridian Wealth Management LLC bought a new position in Cirrus Logic during the third quarter valued at approximately $264,000. Institutional investors own 87.96% of the company's stock.
Wall Street Analyst Weigh In
CRUS has been the subject of a number of research analyst reports. StockNews.com raised shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Benchmark reiterated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays raised their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 5th. One 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $132.86.
View Our Latest Report on Cirrus Logic
Insider Activity
In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were 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 of the company's stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.02% of the company's stock.
Cirrus Logic Trading Down 3.6 %
NASDAQ CRUS traded down $3.75 on Friday, reaching $99.51. 443,647 shares of the stock were exchanged, compared to its average volume of 591,445. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The firm has a market capitalization of $5.29 billion, a PE ratio of 18.06 and a beta of 0.89. The company's 50-day simple moving average is $103.47 and its two-hundred day simple moving average is $108.52.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data 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 net margin of 16.55% and a return on equity of 16.60%. Sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.
About Cirrus Logic
(
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.
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