Y Intercept Hong Kong Ltd Sells 5,233 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Y Intercept Hong Kong Ltd trimmed its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 25.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,243 shares of the semiconductor company's stock after selling 5,233 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Cirrus Logic were worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank lifted its holdings in shares of Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company's stock valued at $26,000 after buying an additional 210 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company's stock worth $30,000 after purchasing an additional 120 shares in the last quarter. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic in the 3rd quarter worth $35,000. Sound Income Strategies LLC purchased a new stake in shares of Cirrus Logic in the 4th quarter worth $46,000. Finally, R Squared Ltd purchased a new stake in shares of Cirrus Logic in the 4th quarter worth $47,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Performance

Shares of CRUS traded up $1.81 during midday trading on Friday, hitting $104.21. 636,065 shares of the company traded hands, compared to its average volume of 762,914. The firm has a 50 day moving average of $103.45 and a 200-day moving average of $113.87. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 18.91 and a beta of 0.91.

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Cirrus Logic (NASDAQ:CRUS - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 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%. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 owns 8,330 shares of the company's stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.02% of the company's stock.

Analyst Upgrades and Downgrades

CRUS has been the subject of several analyst reports. Benchmark upgraded Cirrus Logic from a "hold" rating to a "buy" rating and set a $125.00 price objective for the company in a research note on Wednesday, February 5th. Barclays upped 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 increased their price target 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 assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price target for the company. Finally, StockNews.com upgraded Cirrus Logic from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Cirrus Logic currently 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.