Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. trimmed its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUSFree Report) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,071 shares of the semiconductor company’s stock after selling 488 shares during the period. Pinebridge Investments L.P.’s holdings in Cirrus Logic were worth $339,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in 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. Quadrant Capital Group LLC raised its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Cirrus Logic in the third quarter valued at $62,000. Disciplined Equity Management Inc. acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at $83,000. Finally, Covestor Ltd raised its stake 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 valued at $110,000 after acquiring an additional 174 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $117.52 on Monday. The stock’s 50-day moving average is $99.56 and its two-hundred day moving average is $89.79. The firm has a market cap of $6.28 billion, a price-to-earnings ratio of 23.84 and a beta of 0.97. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $120.29.

Cirrus Logic (NASDAQ:CRUSGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.48. The company had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. As a group, research analysts predict that Cirrus Logic, Inc. will post 4.73 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on CRUS shares. Stifel Nicolaus increased their price objective on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Susquehanna increased their price objective on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday, May 8th. TD Cowen increased their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, KeyCorp raised their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $107.86.

Check Out Our Latest Stock Analysis on CRUS

Insiders Place Their Bets

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the transaction, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the transaction, the director now owns 19,332 shares of the company’s stock, valued at $2,239,612.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Carl Jackson Alberty sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the transaction, the vice president now directly owns 38,507 shares in the company, valued at approximately $4,364,768.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,000 shares of company stock valued at $773,950. 0.89% of the stock is currently owned by insiders.

Cirrus Logic Company 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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