Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 13.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 145,301 shares of the semiconductor company's stock after selling 21,957 shares during the quarter. Franklin Resources Inc. owned 0.27% of Cirrus Logic worth $14,469,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the third quarter valued at approximately $35,000. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic in the 4th quarter valued at $28,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic in the 4th quarter valued at $46,000. R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter worth $47,000. Finally, Quent Capital LLC grew its holdings in shares of Cirrus Logic by 167.2% during the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company's stock worth $47,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Price Performance

CRUS traded up $1.42 during trading hours on Friday, reaching $86.27. The company's stock had a trading volume of 879,223 shares, compared to its average volume of 614,704. The business's 50-day moving average is $100.61 and its 200-day moving average is $105.31. The stock has a market cap of $4.58 billion, a PE ratio of 15.66 and a beta of 0.95. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46.

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Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. Analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CRUS. Barclays boosted 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. Benchmark restated a "buy" rating and set a $125.00 target price on shares of Cirrus Logic in a report on Wednesday, March 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $132.86.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm's 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 transaction, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.02% of the company's stock.

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.