Cirrus Logic, Inc. $CRUS Position Trimmed by LSV Asset Management

LSV Asset Management trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,332,542 shares of the semiconductor company’s stock after selling 5,042 shares during the quarter. LSV Asset Management owned 4.54% of Cirrus Logic worth $292,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Caprock Group LLC acquired a new position in Cirrus Logic in the 3rd quarter valued at approximately $2,080,000. ING Groep NV grew its holdings in shares of Cirrus Logic by 33.2% during the 3rd quarter. ING Groep NV now owns 34,100 shares of the semiconductor company’s stock valued at $4,272,000 after acquiring an additional 8,500 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Cirrus Logic by 3.5% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 12,791 shares of the semiconductor company’s stock valued at $1,603,000 after acquiring an additional 437 shares in the last quarter. Alps Advisors Inc. increased its stake in shares of Cirrus Logic by 7.7% in the third quarter. Alps Advisors Inc. now owns 3,903 shares of the semiconductor company’s stock worth $489,000 after acquiring an additional 278 shares during the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of Cirrus Logic by 142.4% during the third quarter. Hantz Financial Services Inc. now owns 640 shares of the semiconductor company’s stock worth $80,000 after acquiring an additional 376 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO John Forsyth sold 21,806 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total transaction of $2,947,080.90. Following the completion of the sale, the chief executive officer owned 50,723 shares in the company, valued at $6,855,213.45. This represents a 30.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Andrew Brannan sold 8,913 shares of Cirrus Logic stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $119.06, for a total value of $1,061,181.78. Following the completion of the transaction, the executive vice president directly owned 5,950 shares in the company, valued at approximately $708,407. This represents a 59.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.16% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Benchmark upped their target price on Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Barclays lifted their price target on Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a report on Wednesday, February 4th. Loop Capital downgraded Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price objective on the stock. in a report on Monday, February 2nd. KeyCorp raised their price objective on shares of Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $145.43.

Cirrus Logic Stock Down 0.6%

Shares of CRUS stock opened at $141.18 on Thursday. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $146.88. The company has a market cap of $7.20 billion, a PE ratio of 18.60 and a beta of 1.12. The business’s 50 day moving average is $125.61 and its two-hundred day moving average is $121.10.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The business had revenue of $580.62 million for the quarter, compared to analyst estimates of $531.43 million. During the same period last year, the business posted $2.51 EPS. Cirrus Logic’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.