Lecap Asset Management Ltd. Has $1.30 Million Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Lecap Asset Management Ltd. decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,020 shares of the semiconductor company's stock after selling 3,989 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Cirrus Logic were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC boosted its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company's stock valued at $221,000 after purchasing an additional 90 shares during the period. Atria Investments Inc grew its position in Cirrus Logic by 2.9% during the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company's stock worth $447,000 after buying an additional 101 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock valued at $30,000 after acquiring an additional 120 shares in the last quarter. Captrust Financial Advisors raised its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock valued at $353,000 after acquiring an additional 142 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its position in shares of Cirrus Logic by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after acquiring an additional 153 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Trading Down 0.8 %

CRUS stock traded down $0.88 during trading on Tuesday, hitting $103.51. 500,766 shares of the stock traded hands, compared to its average volume of 795,743. The stock has a market cap of $5.50 billion, a price-to-earnings ratio of 18.79 and a beta of 0.91. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The company has a 50 day simple moving average of $102.42 and a 200 day simple moving average of $115.27.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, analysts predict that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 5th. Loop Capital assumed coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a "buy" rating and a $130.00 price objective for the company. Stifel Nicolaus lowered their target price on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. StockNews.com upgraded shares of Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Susquehanna upped their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a research note on Monday, November 18th. 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $132.86.

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 shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.02% of the company's stock.

Cirrus Logic 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.