Migdal Insurance & Financial Holdings Ltd. Sells 218 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Migdal Insurance & Financial Holdings Ltd. lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,042 shares of the semiconductor company’s stock after selling 218 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cirrus Logic were worth $88,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Cirrus Logic by 9.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,495 shares of the semiconductor company’s stock worth $956,000 after purchasing an additional 984 shares in the last quarter. Mackenzie Financial Corp increased its holdings in Cirrus Logic by 1.5% during the 4th quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after purchasing an additional 35,722 shares in the last quarter. Vontobel Holding Ltd. bought a new position in Cirrus Logic during the 4th quarter worth about $213,000. Louisiana State Employees Retirement System bought a new position in Cirrus Logic during the 4th quarter worth about $1,256,000. Finally, Cardinal Capital Management increased its holdings in Cirrus Logic by 1.2% during the 4th quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after purchasing an additional 189 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $83.25 on Friday. The stock has a 50-day simple moving average of $90.69 and a 200 day simple moving average of $81.56. The stock has a market capitalization of $4.49 billion, a P/E ratio of 26.43 and a beta of 1.00. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Research analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

Insiders Place Their Bets

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total transaction of $305,500.00. Following the completion of the sale, the vice president now owns 6,055 shares of the company’s stock, valued at $569,170. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 over the last three months. Insiders own 0.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Friday, April 12th. Susquehanna lifted their price target on Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. TD Cowen lifted their price target on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, Barclays lifted their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cirrus Logic presently has a consensus rating of “Buy” and a consensus target price of $96.43.

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 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 digital signal processing; boosted amplifiers; 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.