Meeder Asset Management Inc. Sells 7,533 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Meeder Asset Management Inc. trimmed its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 75.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,463 shares of the semiconductor company's stock after selling 7,533 shares during the period. Meeder Asset Management Inc.'s holdings in Cirrus Logic were worth $245,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRUS. Wellington Management Group LLP lifted its stake in Cirrus Logic by 4.1% in the fourth quarter. Wellington Management Group LLP now owns 1,643,287 shares of the semiconductor company's stock valued at $163,639,000 after buying an additional 65,441 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Cirrus Logic by 7.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 6,986 shares of the semiconductor company's stock worth $696,000 after buying an additional 475 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in Cirrus Logic in the 4th quarter worth approximately $1,691,000. DnB Asset Management AS raised its stake in Cirrus Logic by 52.1% during the 4th quarter. DnB Asset Management AS now owns 274,672 shares of the semiconductor company's stock valued at $27,352,000 after acquiring an additional 94,088 shares in the last quarter. Finally, denkapparat Operations GmbH bought a new stake in Cirrus Logic during the 4th quarter valued at $228,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Down 6.3 %

Shares of NASDAQ CRUS traded down $5.62 during mid-day trading on Friday, reaching $83.23. The company had a trading volume of 1,091,138 shares, compared to its average volume of 599,694. The company has a 50-day moving average price of $102.80 and a two-hundred day moving average price of $107.08. The stock has a market cap of $4.42 billion, a PE ratio of 15.11 and a beta of 0.95. Cirrus Logic, Inc. has a 1-year low of $81.30 and a 1-year high of $147.46.

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

Insider Activity

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays increased their price target 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. Benchmark reiterated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $132.86.

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.