Guggenheim Capital LLC Sells 9,098 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Guggenheim Capital LLC lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 47.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,888 shares of the semiconductor company's stock after selling 9,098 shares during the quarter. Guggenheim Capital LLC's holdings in Cirrus Logic were worth $985,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRUS. Virtu Financial LLC bought a new position in shares of Cirrus Logic during the 3rd quarter worth $941,000. Westside Investment Management Inc. bought a new position in Cirrus Logic during the 3rd quarter worth about $35,000. Tidal Investments LLC increased its position in Cirrus Logic by 118.7% during the 3rd quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company's stock valued at $1,834,000 after purchasing an additional 8,016 shares during the period. Franklin Resources Inc. raised its holdings in shares of Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company's stock valued at $20,625,000 after purchasing an additional 62,757 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock worth $36,811,000 after purchasing an additional 69,006 shares during the period. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

Cirrus Logic stock opened at $86.74 on Wednesday. The business has a fifty day moving average price of $97.89 and a 200-day moving average price of $103.62. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The stock has a market capitalization of $4.61 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued 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%. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business'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 sale, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 17th. Benchmark reissued a "buy" rating and issued a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Barclays decreased their price objective on Cirrus Logic from $115.00 to $80.00 and set an "equal weight" rating for the company in a research note on Tuesday. 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, Cirrus Logic currently has an average rating of "Moderate Buy" and a consensus price target of $123.86.

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.

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