Cirrus Logic, Inc. (NASDAQ:CRUS) Holdings Trimmed by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 62.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,673 shares of the semiconductor company's stock after selling 12,692 shares during the quarter. SG Americas Securities LLC's holdings in Cirrus Logic were worth $953,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of Cirrus Logic by 1,911.1% in the 2nd quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company's stock worth $46,000 after buying an additional 344 shares during the period. Atlas Capital Advisors LLC lifted its stake in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company's stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock worth $61,000 after purchasing an additional 210 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in shares of Cirrus Logic during the 2nd quarter worth about $77,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in Cirrus Logic by 52.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company's stock worth $123,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company's stock.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm's stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Justin E. Dougherty sold 10,203 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares in the company, valued at $637,212.98. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the business's stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the sale, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on CRUS. StockNews.com downgraded shares of Cirrus Logic from a "strong-buy" rating to a "buy" rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Cirrus Logic from $110.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, July 18th. Barclays lowered Cirrus Logic from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $140.00 to $120.00 in a research note on Thursday. KeyCorp boosted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Finally, Susquehanna increased their price objective on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a "positive" rating in a research report on Wednesday, July 17th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of "Moderate Buy" and a consensus price target of $140.00.

Cirrus Logic Price Performance

CRUS traded up $0.02 during trading on Friday, hitting $119.71. The company had a trading volume of 294,235 shares, compared to its average volume of 482,122. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46. The company has a market cap of $6.39 billion, a PE ratio of 22.13 and a beta of 0.96. The business has a 50-day moving average of $130.43 and a 200-day moving average of $118.33.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, topping the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million for the quarter, compared to analysts' expectations of $318.41 million. Cirrus Logic had a net margin of 16.31% and a return on equity of 17.42%. The company's quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Research analysts forecast that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

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.