Los Angeles Capital Management LLC Sells 5,733 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Los Angeles Capital Management LLC lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 8.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,227 shares of the semiconductor company's stock after selling 5,733 shares during the period. Los Angeles Capital Management LLC owned approximately 0.12% of Cirrus Logic worth $6,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company's stock worth $89,527,000 after buying an additional 129,457 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company's stock worth $141,414,000 after buying an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company's stock worth $36,811,000 after buying an additional 69,006 shares during the last quarter. Sheaff Brock Investment Advisors LLC bought a new position in shares of Cirrus Logic in the third quarter worth about $1,752,000. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Cirrus Logic in the third quarter worth about $2,543,000. Institutional investors and hedge funds own 87.96% of the company's stock.

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Cirrus Logic Trading Up 1.8 %

CRUS traded up $1.81 on Friday, hitting $104.21. 636,065 shares of the stock traded hands, compared to its average volume of 762,914. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The firm has a market capitalization of $5.54 billion, a PE ratio of 18.91 and a beta of 0.91. The business has a fifty day moving average price of $103.45 and a two-hundred day moving average price of $113.70.

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 (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%. On average, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 5th. Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a "positive" rating in a research note on Monday, November 18th. Loop Capital initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price objective on the stock. StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, Stifel Nicolaus dropped their price objective on Cirrus Logic from $165.00 to $140.00 and set a "buy" rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and a consensus 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 Cirrus Logic stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.