Raymond James Financial Services Advisors Inc. Sells 1,929 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James Financial Services Advisors Inc. decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 35.8% during the 4th quarter, Holdings Channel reports. The firm owned 3,464 shares of the semiconductor company’s stock after selling 1,929 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Cirrus Logic were worth $288,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nisa Investment Advisors LLC grew its holdings in shares of Cirrus Logic by 71.1% in the third 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 bought a new position in shares of Cirrus Logic in the third quarter worth approximately $62,000. Covestor Ltd grew its holdings in shares of Cirrus Logic by 13.2% in the third quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after purchasing an additional 174 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in shares of Cirrus Logic in the third quarter worth approximately $116,000. Finally, SG Americas Securities LLC bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $173,000. Institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Andrew Brannan sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $94.00, for a total value of $305,500.00. Following the completion of the transaction, the vice president now directly 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 a total of 7,530 shares of company stock valued at $700,292 in the last quarter. 0.89% of the stock is owned by insiders.

Cirrus Logic Trading Up 3.0 %

Shares of CRUS stock opened at $84.47 on Tuesday. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $95.87. The stock has a market cap of $4.55 billion, a PE ratio of 26.82 and a beta of 1.00. The company’s fifty day moving average price is $90.31 and its 200-day moving average price is $81.85.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Susquehanna lifted their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. TD Cowen lifted their price target on shares of Cirrus Logic from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, February 7th. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Stifel Nicolaus lifted their price target 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. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $96.43.

Cirrus Logic Profile

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.