Cirrus Logic, Inc. (NASDAQ:CRUS) Stake Reduced by LSV Asset Management

LSV Asset Management cut its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,296,519 shares of the semiconductor company’s stock after selling 10,900 shares during the quarter. LSV Asset Management’s holdings in Cirrus Logic were worth $107,857,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Venturi Wealth Management LLC increased its stake in Cirrus Logic by 93.7% in the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Cirrus Logic by 71.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Cirrus Logic in the 3rd quarter worth about $62,000. Disciplined Equity Management Inc. purchased a new position in Cirrus Logic in the 4th quarter worth about $83,000. Finally, Covestor Ltd grew its stake in Cirrus Logic by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 174 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors.

Insider Transactions at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following 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 is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock worth $700,292 over the last three months. 0.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several research analyst reports. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Barclays lifted their target price on Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, January 16th. Stifel Nicolaus lifted their target price on Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. TD Cowen lifted their target price on Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. Finally, TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $96.43.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $2.57 during trading hours on Friday, hitting $88.48. The stock had a trading volume of 325,867 shares, compared to its average volume of 312,806. The firm’s 50-day moving average price is $89.67 and its two-hundred day moving average price is $82.68. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87. The company has a market capitalization of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99.

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