Intech Investment Management LLC Has $214,000 Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Intech Investment Management LLC reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 28.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,574 shares of the semiconductor company’s stock after selling 1,016 shares during the period. Intech Investment Management LLC’s holdings in Cirrus Logic were worth $214,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. MQS Management LLC raised its holdings in Cirrus Logic by 4.0% during the 3rd quarter. MQS Management LLC now owns 4,298 shares of the semiconductor company’s stock worth $318,000 after buying an additional 164 shares during the period. Truvestments Capital LLC raised its holdings in Cirrus Logic by 5.2% during the 3rd quarter. Truvestments Capital LLC now owns 3,462 shares of the semiconductor company’s stock worth $256,000 after buying an additional 171 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Cirrus Logic by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 26,963 shares of the semiconductor company’s stock worth $1,994,000 after buying an additional 172 shares during the period. Covestor Ltd raised its holdings in Cirrus Logic by 13.2% during the 3rd quarter. Covestor Ltd now owns 1,492 shares of the semiconductor company’s stock worth $110,000 after buying an additional 174 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a report on Wednesday, May 8th. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 16th. KeyCorp lifted their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Stifel Nicolaus raised their target price on shares of Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Finally, Barclays raised their target price on shares of Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.86.

Check Out Our Latest Research Report on Cirrus Logic

Insiders Place Their Bets

In other Cirrus Logic news, VP Carl Jackson Alberty sold 2,000 shares of Cirrus Logic stock in a transaction on Monday, May 20th. The shares were sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the transaction, the vice president now directly owns 38,507 shares of the company’s stock, valued at $4,364,768.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the sale, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Carl Jackson Alberty sold 2,000 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $113.35, for a total transaction of $226,700.00. Following the completion of the sale, the vice president now directly owns 38,507 shares of the company’s stock, valued at approximately $4,364,768.45. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock valued at $773,950 over the last ninety days. 0.89% of the stock is currently owned by company insiders.

Cirrus Logic Price Performance

CRUS stock opened at $114.70 on Friday. The company has a fifty day moving average price of $97.05 and a two-hundred day moving average price of $88.28. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $117.12. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of 23.27 and a beta of 0.99.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last released its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The firm had revenue of $371.83 million during the quarter, compared to analysts’ expectations of $320.14 million. Research analysts anticipate that Cirrus Logic, Inc. will post 4.73 EPS for the current fiscal year.

Cirrus Logic Profile

(Free Report)

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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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