Bayforest Capital Ltd Sells 4,916 Shares of Cirrus Logic, Inc. $CRUS

Bayforest Capital Ltd reduced its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 51.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,640 shares of the semiconductor company’s stock after selling 4,916 shares during the period. Cirrus Logic makes up 0.4% of Bayforest Capital Ltd’s portfolio, making the stock its 18th largest holding. Bayforest Capital Ltd’s holdings in Cirrus Logic were worth $550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Cirrus Logic by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 6,622,431 shares of the semiconductor company’s stock valued at $829,724,000 after acquiring an additional 268,560 shares during the last quarter. Earnest Partners LLC increased its holdings in Cirrus Logic by 0.8% in the 3rd quarter. Earnest Partners LLC now owns 1,348,710 shares of the semiconductor company’s stock valued at $168,980,000 after acquiring an additional 10,750 shares during the last quarter. Sei Investments Co. increased its holdings in Cirrus Logic by 2.2% in the 3rd quarter. Sei Investments Co. now owns 926,958 shares of the semiconductor company’s stock valued at $116,140,000 after acquiring an additional 20,381 shares during the last quarter. Royce & Associates LP increased its holdings in Cirrus Logic by 5.1% in the 3rd quarter. Royce & Associates LP now owns 713,999 shares of the semiconductor company’s stock valued at $89,457,000 after acquiring an additional 34,839 shares during the last quarter. Finally, DNB Asset Management AS increased its holdings in Cirrus Logic by 5.5% in the 3rd quarter. DNB Asset Management AS now owns 532,180 shares of the semiconductor company’s stock valued at $66,677,000 after acquiring an additional 27,706 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CRUS shares. Stifel Nicolaus lifted their price target on shares of Cirrus Logic from $163.00 to $175.00 and gave the company a “buy” rating in a report on Thursday. KeyCorp lifted their price target on shares of Cirrus Logic from $150.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, April 6th. Benchmark lifted their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 price target on the stock. in a report on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $152.14.

Insider Transactions at Cirrus Logic

In other news, CEO John Forsyth sold 21,806 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $135.15, for a total value of $2,947,080.90. Following the sale, the chief executive officer directly owned 50,723 shares in the company, valued at $6,855,213.45. The trade was a 30.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Thomas sold 9,942 shares of the business’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $160.11, for a total transaction of $1,591,813.62. Following the completion of the sale, the executive vice president owned 30,393 shares in the company, valued at approximately $4,866,223.23. This trade represents a 24.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 37,987 shares of company stock worth $5,427,114 in the last three months. Insiders own 1.16% of the company’s stock.

Cirrus Logic Stock Up 1.8%

Cirrus Logic stock opened at $167.80 on Friday. The company’s 50-day moving average price is $143.97 and its 200-day moving average price is $131.03. Cirrus Logic, Inc. has a twelve month low of $83.43 and a twelve month high of $168.92. The company has a market cap of $8.56 billion, a PE ratio of 22.11 and a beta of 1.08.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm had revenue of $580.62 million for the quarter, compared to the consensus estimate of $531.43 million. During the same period in the previous year, the firm posted $2.51 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. As a group, sell-side analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.