Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,351 shares of the semiconductor company’s stock after selling 2,249 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Cirrus Logic were worth $2,774,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares in the last quarter. Covington Capital Management grew its position in Cirrus Logic by 100.0% during the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 200 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Cirrus Logic by 71.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 722 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 300 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Cirrus Logic during the 3rd quarter worth $62,000. Finally, NewEdge Advisors LLC grew its position in Cirrus Logic by 1,872.0% during the 1st quarter. NewEdge Advisors LLC now owns 986 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 936 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Down 2.3 %

Shares of NASDAQ:CRUS opened at $83.25 on Friday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 26.43 and a beta of 1.00. The firm’s 50-day simple moving average is $90.69 and its 200-day simple moving average is $81.56. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating the consensus estimate of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The firm had revenue of $618.98 million during the quarter, compared to analysts’ expectations of $539.55 million. On average, research analysts forecast that Cirrus Logic, Inc. will post 4.79 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Susquehanna raised their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, February 7th. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Barclays raised their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. StockNews.com raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Friday, April 12th. Finally, Stifel Nicolaus lifted their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Six research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $96.43.

Insider Activity at Cirrus Logic

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares in the company, valued at $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now owns 1,587 shares in the company, valued at $150,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of Cirrus Logic stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total transaction of $305,500.00. Following the transaction, the vice president now owns 6,055 shares of the company’s stock, valued at approximately $569,170. The disclosure for this sale can be found here. Insiders sold 7,530 shares of company stock worth $700,292 over the last 90 days. Company insiders own 0.89% of the company’s stock.

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.