Federated Hermes Inc. Sells 1,044 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Federated Hermes Inc. decreased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,934 shares of the semiconductor company’s stock after selling 1,044 shares during the period. Federated Hermes Inc.’s holdings in Cirrus Logic were worth $3,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC increased its position in shares of Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Cirrus Logic by 71.1% during 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 in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Cirrus Logic during the third quarter worth $62,000. Covestor Ltd increased its position in shares of Cirrus Logic by 13.2% during 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 in the last quarter. Finally, CWM LLC increased its position in shares of Cirrus Logic by 17.1% during the third quarter. CWM LLC now owns 2,084 shares of the semiconductor company’s stock worth $154,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $88.53 on Friday. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $95.87. The firm has a market cap of $4.77 billion, a price-to-earnings ratio of 28.10 and a beta of 1.00. The firm’s fifty day moving average is $90.01 and its two-hundred day moving average is $82.21.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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 company had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 4.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $95.00, for a total value of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the sale, the senior vice president now directly owns 6,000 shares of the company’s stock, valued at approximately $548,400. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares in the company, valued at $150,765. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,530 shares of company stock valued at $700,292. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Barclays upped their price target on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Susquehanna boosted their price objective 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. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 20th. Finally, TD Cowen boosted their price objective 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. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus 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.