Cirrus Logic, Inc. $CRUS Shares Sold by American Century Companies Inc.

American Century Companies Inc. lowered its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,164 shares of the semiconductor company’s stock after selling 12,537 shares during the period. American Century Companies Inc. owned approximately 0.14% of Cirrus Logic worth $7,732,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Cetera Investment Advisers raised its stake in shares of Cirrus Logic by 74.3% during the first quarter. Cetera Investment Advisers now owns 4,824 shares of the semiconductor company’s stock valued at $481,000 after purchasing an additional 2,057 shares in the last quarter. LPL Financial LLC raised its position in shares of Cirrus Logic by 20.2% during the 1st quarter. LPL Financial LLC now owns 16,026 shares of the semiconductor company’s stock worth $1,597,000 after buying an additional 2,698 shares in the last quarter. XTX Topco Ltd lifted its stake in shares of Cirrus Logic by 42.0% in the 1st quarter. XTX Topco Ltd now owns 5,031 shares of the semiconductor company’s stock worth $501,000 after acquiring an additional 1,489 shares during the period. US Bancorp DE boosted its holdings in shares of Cirrus Logic by 245.8% in the first quarter. US Bancorp DE now owns 4,662 shares of the semiconductor company’s stock valued at $465,000 after acquiring an additional 3,314 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Cirrus Logic by 0.4% during the first quarter. Vanguard Group Inc. now owns 6,420,646 shares of the semiconductor company’s stock valued at $639,849,000 after acquiring an additional 24,614 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Up 1.6%

CRUS opened at $123.82 on Friday. The firm has a market capitalization of $6.32 billion, a P/E ratio of 17.59 and a beta of 1.08. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $136.92. The stock has a fifty day moving average of $123.54 and a 200-day moving average of $113.64.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, November 4th. The semiconductor company reported $2.83 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. Cirrus Logic had a return on equity of 19.59% and a net margin of 19.48%.The firm had revenue of $560.96 million during the quarter, compared to analyst estimates of $540.45 million. During the same period last year, the company posted $2.25 EPS. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 734 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $131.25, for a total value of $96,337.50. Following the completion of the sale, the executive vice president owned 26,307 shares in the company, valued at $3,452,793.75. This represents a 2.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Denise Grode sold 2,202 shares of the business’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $116.87, for a total transaction of $257,347.74. Following the transaction, the executive vice president owned 5,698 shares in the company, valued at approximately $665,925.26. This represents a 27.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 32,100 shares of company stock valued at $3,861,510. 1.16% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays upped their target price on Cirrus Logic from $90.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 5th. Williams Trading set a $150.00 price objective on Cirrus Logic in a research note on Wednesday, November 5th. KeyCorp raised their target price on Cirrus Logic from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Susquehanna lifted their target price on Cirrus Logic from $140.00 to $155.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Finally, Benchmark boosted their price target on shares of Cirrus Logic from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $141.67.

About Cirrus Logic

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.