Russell Investments Group Ltd. lessened its position in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,004 shares of the semiconductor company's stock after selling 51,873 shares during the period. Russell Investments Group Ltd. owned about 0.19% of Cirrus Logic worth $9,859,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Arizona State Retirement System lifted its position in shares of Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company's stock valued at $1,543,000 after buying an additional 101 shares during the last quarter. Truvestments Capital LLC boosted its position in Cirrus Logic by 3.5% during the fourth quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company's stock worth $396,000 after purchasing an additional 133 shares during the period. Captrust Financial Advisors lifted its stake in shares of Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company's stock worth $353,000 after buying an additional 142 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in shares of Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company's stock worth $391,000 after buying an additional 153 shares during the period. Finally, Bartlett & CO. Wealth Management LLC raised its holdings in Cirrus Logic by 40.0% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company's stock valued at $70,000 after acquiring an additional 200 shares during the period. 87.96% of the stock is owned by institutional investors.
Analyst Ratings Changes
CRUS has been the subject of a number of research analyst reports. Benchmark restated a "buy" rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday, March 19th. Barclays lifted their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cirrus Logic presently has a consensus rating of "Moderate Buy" and a consensus price target of $132.86.
Check Out Our Latest Stock Analysis on Cirrus Logic
Insider Buying and Selling
In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 owns 8,330 shares of the company's stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.02% of the stock is owned by corporate insiders.
Cirrus Logic Trading Down 0.5 %
CRUS stock traded down $0.46 during mid-day trading on Tuesday, hitting $86.95. The stock had a trading volume of 458,251 shares, compared to its average volume of 615,402. Cirrus Logic, Inc. has a 52 week low of $75.83 and a 52 week high of $147.46. The firm has a market capitalization of $4.62 billion, a P/E ratio of 15.78 and a beta of 0.95. The firm has a fifty day simple moving average of $100.17 and a 200 day simple moving average of $104.95.
Cirrus Logic (NASDAQ:CRUS - Get Free Report) last announced its quarterly earnings data 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, equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.
Cirrus Logic Company Profile
(
Free Report)
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.
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