Beverly Hills Private Wealth LLC Reduces Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Beverly Hills Private Wealth LLC decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,276 shares of the semiconductor company’s stock after selling 406 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Cirrus Logic were worth $439,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC grew its holdings in shares of Cirrus Logic by 4.5% in the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares during the period. Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 1.7% in the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares during the period. Mackenzie Financial Corp grew its holdings in shares of Cirrus Logic by 5.9% in the fourth quarter. Mackenzie Financial Corp now owns 2,891,480 shares of the semiconductor company’s stock valued at $215,357,000 after purchasing an additional 160,832 shares during the period. State Street Corp grew its holdings in shares of Cirrus Logic by 7.0% in the second quarter. State Street Corp now owns 2,103,952 shares of the semiconductor company’s stock valued at $170,441,000 after purchasing an additional 137,227 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Cirrus Logic by 183.8% in the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after purchasing an additional 1,277,213 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRUS. StockNews.com raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Friday. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Stifel Nicolaus upped their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Barclays upped their target price on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, January 16th. Finally, Susquehanna upped their target price on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $96.43.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares in the company, valued at $569,170. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $94.00, for a total value of $305,500.00. Following the transaction, the vice president now directly owns 6,055 shares of the company’s stock, valued at approximately $569,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of Cirrus Logic stock in a transaction 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 transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock valued at $700,292 over the last 90 days. 0.89% of the stock is owned by corporate insiders.

Cirrus Logic Stock Performance

Shares of CRUS opened at $86.97 on Tuesday. The stock has a market capitalization of $4.69 billion, a PE ratio of 27.61 and a beta of 1.00. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87. The company’s 50-day simple moving average is $90.83 and its 200-day simple moving average is $81.44.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million for the quarter, compared to analysts’ expectations of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. On average, sell-side analysts predict that Cirrus Logic, Inc. will post 4.79 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 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.