Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 38.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,645 shares of the semiconductor company’s stock after selling 1,641 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Cirrus Logic were worth $182,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRUS. Truvestments Capital LLC acquired a new position in Cirrus Logic during the second quarter worth about $41,000. CoreCap Advisors LLC purchased a new stake in Cirrus Logic in the 2nd quarter valued at approximately $49,000. Wipfli Financial Advisors LLC acquired a new stake in Cirrus Logic during the 3rd quarter valued at $49,000. EverSource Wealth Advisors LLC increased its position in Cirrus Logic by 201.1% during the third quarter. EverSource Wealth Advisors LLC now owns 801 shares of the semiconductor company’s stock worth $55,000 after buying an additional 535 shares in the last quarter. Finally, Janiczek Wealth Management LLC raised its holdings in shares of Cirrus Logic by 93.5% in the third quarter. Janiczek Wealth Management LLC now owns 890 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 430 shares during the last quarter. 91.78% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Trading Up 0.4 %

Shares of CRUS opened at $103.23 on Wednesday. The stock’s fifty day simple moving average is $92.81 and its 200 day simple moving average is $80.22. Cirrus Logic, Inc. has a twelve month low of $61.94 and a twelve month high of $108.42. The firm has a market capitalization of $5.70 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 4.47 and a beta of 0.98.

Cirrus Logic (NASDAQ:CRUS – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The semiconductor company reported $2.40 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Cirrus Logic had a return on equity of 22.50% and a net margin of 16.22%. The company had revenue of $590.58 million for the quarter, compared to the consensus estimate of $543.55 million. During the same period last year, the business posted $2.28 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.25 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Scott Thomas sold 2,466 shares of the stock in a transaction on Friday, February 3rd. The shares were sold at an average price of $101.25, for a total value of $249,682.50. Following the completion of the sale, the senior vice president now owns 23,020 shares of the company’s stock, valued at $2,330,775. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Carl Jackson Alberty sold 1,998 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was sold at an average price of $105.45, for a total value of $210,689.10. Following the completion of the sale, the vice president now owns 36,436 shares of the company’s stock, valued at $3,842,176.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Scott Thomas sold 2,466 shares of the firm’s stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $101.25, for a total value of $249,682.50. Following the sale, the senior vice president now owns 23,020 shares in the company, valued at $2,330,775. The disclosure for this sale can be found here. Insiders have sold a total of 50,906 shares of company stock valued at $5,322,371 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRUS. Loop Capital increased their price objective on Cirrus Logic from $100.00 to $115.00 in a research note on Monday, February 6th. Cowen boosted their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, February 3rd. Needham & Company LLC raised their target price on shares of Cirrus Logic from $85.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 3rd. Barclays boosted their price target on Cirrus Logic from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Monday, January 23rd. Finally, StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Thursday, February 9th. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $107.27.

Cirrus Logic Profile

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Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.