Cirrus Logic, Inc. $CRUS Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,281 shares of the semiconductor company’s stock after selling 12,145 shares during the period. Pacer Advisors Inc.’s holdings in Cirrus Logic were worth $59,190,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Cirrus Logic by 7,333.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 220 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Cirrus Logic by 120.0% during the first quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 120 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new position in Cirrus Logic during the fourth quarter worth about $33,000. Torren Management LLC acquired a new stake in Cirrus Logic in the fourth quarter valued at about $35,000. Finally, Kestra Advisory Services LLC acquired a new stake in Cirrus Logic in the fourth quarter valued at about $36,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on CRUS. Zacks Research cut Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Stifel Nicolaus set a $197.00 price target on Cirrus Logic in a research note on Thursday, May 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Jefferies Financial Group upgraded Cirrus Logic to a “buy” rating in a research report on Thursday, June 4th. Finally, KeyCorp reduced their target price on Cirrus Logic from $200.00 to $190.00 and set an “overweight” rating for the company in a report on Tuesday, July 14th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $160.29.

Insider Buying and Selling

In other news, EVP Andrew Brannan sold 6,464 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $144.71, for a total value of $935,405.44. Following the completion of the transaction, the executive vice president owned 7,203 shares in the company, valued at $1,042,346.13. This trade represents a 47.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Jeffrey W. Baumgartner sold 1,166 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $138.57, for a total transaction of $161,572.62. Following the completion of the sale, the executive vice president owned 15,239 shares in the company, valued at $2,111,668.23. This represents a 7.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 23,465 shares of company stock valued at $3,743,219 in the last three months. 1.20% of the stock is owned by insiders.

Cirrus Logic Price Performance

Shares of NASDAQ:CRUS opened at $127.33 on Tuesday. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 16.24 and a beta of 1.18. The business’s 50 day simple moving average is $152.38 and its 200-day simple moving average is $149.05. Cirrus Logic, Inc. has a 12 month low of $92.02 and a 12 month high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.19. The firm had revenue of $448.52 million during the quarter, compared to the consensus estimate of $442.25 million. Cirrus Logic had a return on equity of 20.48% and a net margin of 20.75%.Cirrus Logic’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 7.86 earnings per share for the current 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.