Cirrus Logic, Inc. $CRUS Stock: Leuthold Group LLC Reduces Stake

Leuthold Group LLC lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 68.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 7,169 shares of the semiconductor company’s stock after selling 15,534 shares during the period. Leuthold Group LLC’s holdings in Cirrus Logic were worth $860,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CRUS. Fulcrum Asset Management LLP bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $264,000. Parallel Advisors LLC grew its holdings in shares of Cirrus Logic by 25.6% during the 3rd quarter. Parallel Advisors LLC now owns 2,176 shares of the semiconductor company’s stock worth $261,000 after purchasing an additional 443 shares in the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Cirrus Logic during the 3rd quarter worth approximately $228,000. Provenance Wealth Advisors LLC bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $27,000. Finally, Greenleaf Trust increased its position in shares of Cirrus Logic by 48.4% during the third quarter. Greenleaf Trust now owns 2,228 shares of the semiconductor company’s stock valued at $267,000 after purchasing an additional 727 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 1.6%

NASDAQ:CRUS opened at $120.17 on Wednesday. The stock has a market capitalization of $5.99 billion, a P/E ratio of 15.17 and a beta of 1.23. Cirrus Logic, Inc. has a 1 year low of $105.10 and a 1 year high of $180.42. The firm has a 50 day moving average of $114.66 and a 200-day moving average of $138.05.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported $2.70 EPS for the quarter, topping analysts’ consensus estimates of $2.42 by $0.28. Cirrus Logic had a return on equity of 19.77% and a net margin of 20.20%. The business had revenue of $559.46 million for the quarter, compared to analyst estimates of $540.37 million. During the same period in the prior year, the company earned $2.83 EPS. Cirrus Logic’s revenue for the quarter was down .2% on a year-over-year basis. As a group, analysts forecast that Cirrus Logic, Inc. will post 7.20 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings cut Cirrus Logic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. Wall Street Zen downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Zacks Research lowered shares of Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Friday, August 14th. Susquehanna dropped their price objective on shares of Cirrus Logic from $200.00 to $170.00 and set a “positive” rating for the company in a research note on Wednesday, October 21st. Finally, KeyCorp cut shares of Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Four investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $147.50.

Insider Buying and Selling

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $107.75, for a total transaction of $125,636.50. Following the sale, the executive vice president owned 11,741 shares in the company, valued at approximately $1,265,092.75. This represents a 9.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,498 shares of company stock valued at $401,850 over the last quarter. 1.20% of the stock is currently owned by insiders.

Cirrus Logic Profile

Cirrus Logic is a fabless semiconductor company that designs high-performance, low-power integrated circuits, with a focus on audio and mixed-signal technologies. Its products include audio converters and codecs, amplifiers, and other components used to capture, process, and reproduce sound. The company also develops mixed-signal products for applications such as haptics and power management. Its chips are designed for a range of markets, including smartphones, computers, consumer audio equipment, automotive systems, and industrial devices.