Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Denali Advisors LLC

Denali Advisors LLC lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,907 shares of the semiconductor company’s stock after selling 400 shares during the period. Denali Advisors LLC’s holdings in Cirrus Logic were worth $289,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its holdings in shares of Cirrus Logic by 1.9% during the fourth quarter. Bank of New York Mellon Corp now owns 479,812 shares of the semiconductor company’s stock worth $47,780,000 after buying an additional 9,050 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after purchasing an additional 604,431 shares in the last quarter. ING Groep NV purchased a new stake in Cirrus Logic in the 4th quarter valued at approximately $2,649,000. Hussman Strategic Advisors Inc. boosted its holdings in Cirrus Logic by 42.9% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 21,000 shares of the semiconductor company’s stock valued at $2,091,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Ieq Capital LLC purchased a new stake in Cirrus Logic in the 4th quarter valued at approximately $227,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $102.49 on Friday. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The company has a market capitalization of $5.45 billion, a P/E ratio of 18.60 and a beta of 0.91. The business has a 50 day moving average price of $103.38 and a 200 day moving average price of $114.06.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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, research analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CRUS shares. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Loop Capital assumed coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Barclays boosted their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Susquehanna boosted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Finally, Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $132.86.

Insider Buying and Selling at Cirrus Logic

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

Cirrus Logic Company 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.