Cerity Partners LLC Has $336,000 Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Cerity Partners LLC trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 84.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,155 shares of the semiconductor company’s stock after selling 16,714 shares during the quarter. Cerity Partners LLC’s holdings in Cirrus Logic were worth $336,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Cirrus Logic during the third quarter worth about $941,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the third quarter valued at approximately $35,000. Tidal Investments LLC lifted its stake in Cirrus Logic by 118.7% during the third quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company’s stock worth $1,834,000 after purchasing an additional 8,016 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company’s stock valued at $20,625,000 after purchasing an additional 62,757 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $88.76 on Thursday. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $147.46. The company has a market capitalization of $4.72 billion, a P/E ratio of 16.11 and a beta of 0.95. The company has a fifty day moving average price of $97.49 and a 200-day moving average price of $103.52.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRUS. Barclays decreased their target price on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Tuesday. 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. Finally, Stifel Nicolaus cut their target price on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

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.