Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by LPL Financial LLC

LPL Financial LLC lowered its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 32.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,328 shares of the semiconductor company’s stock after selling 6,465 shares during the period. LPL Financial LLC’s holdings in Cirrus Logic were worth $1,327,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in CRUS. Westside Investment Management Inc. bought a new position in Cirrus Logic during the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the fourth quarter worth about $28,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic in the 4th quarter valued at about $46,000. R Squared Ltd bought a new position in shares of Cirrus Logic during the 4th quarter valued at about $47,000. Finally, Quent Capital LLC boosted its position in shares of Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 296 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $85.58 on Friday. The business has a fifty day moving average of $98.66 and a two-hundred day moving average of $104.20. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The stock has a market cap of $4.55 billion, a PE ratio of 15.53 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CRUS shares. Stifel Nicolaus reduced their price objective on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday. Barclays upped their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Benchmark reiterated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $128.86.

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.