Invesco Ltd. Has $60.42 Million Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Invesco Ltd. trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 25.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 606,708 shares of the semiconductor company's stock after selling 211,947 shares during the period. Invesco Ltd. owned 1.14% of Cirrus Logic worth $60,416,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic in the fourth quarter valued at $28,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the 3rd quarter worth about $35,000. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at about $39,000. Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth about $46,000. Finally, R Squared Ltd acquired a new stake in Cirrus Logic during the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 87.96% of the company's stock.

Cirrus Logic Stock Up 0.1 %

Shares of NASDAQ CRUS traded up $0.06 during mid-day trading on Friday, hitting $85.58. 519,758 shares of the company traded hands, compared to its average volume of 618,592. 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 $4.55 billion, a price-to-earnings ratio of 15.53 and a beta of 0.95. The business has a 50 day moving average of $99.02 and a two-hundred day moving average of $104.43.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on CRUS shares. Benchmark restated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays boosted their price target 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. Finally, Stifel Nicolaus lowered 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 report on Thursday. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.86.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company'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 transaction, the executive vice president now directly owns 8,330 shares of the company's stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.02% of the company's stock.

About Cirrus Logic

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.