Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Marshall Wace LLP

Marshall Wace LLP lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 30.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,614 shares of the semiconductor company’s stock after selling 38,798 shares during the quarter. Marshall Wace LLP owned 0.16% of Cirrus Logic worth $11,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRUS. Vanguard Group Inc. increased its position in shares of Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock worth $588,977,000 after acquiring an additional 128,393 shares during the last quarter. LSV Asset Management increased its holdings in Cirrus Logic by 34.6% during the 2nd quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock worth $241,340,000 after purchasing an additional 486,086 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Cirrus Logic by 2.9% in the 4th quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock valued at $113,843,000 after purchasing an additional 38,659 shares in the last quarter. Earnest Partners LLC boosted its stake in shares of Cirrus Logic by 4.8% during the 1st quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock valued at $122,029,000 after buying an additional 60,261 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Cirrus Logic by 8.6% during the 2nd quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock valued at $96,587,000 after buying an additional 59,690 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Down 0.3 %

CRUS opened at $121.60 on Friday. The company’s 50-day moving average price is $132.22 and its 200 day moving average price is $116.43. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $147.46. The firm has a market cap of $6.49 billion, a price-to-earnings ratio of 24.67 and a beta of 0.97.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business had revenue of $374.03 million for the quarter, compared to analysts’ expectations of $318.41 million. During the same period in the prior year, the firm earned $0.35 EPS. The business’s quarterly revenue was up 18.0% on a year-over-year basis. Research analysts anticipate that Cirrus Logic, Inc. will post 5.26 earnings per share for the current year.

Insider Buying and Selling at Cirrus Logic

In other news, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Susquehanna upped their price target on shares of Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 15th. KeyCorp lifted their price target on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Stifel Nicolaus upped their price objective on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Barclays increased their target price on Cirrus Logic from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average target price of $143.33.

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 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.