Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 16.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 137,665 shares of the semiconductor company’s stock after selling 26,464 shares during the period. Russell Investments Group Ltd. owned approximately 0.26% of Cirrus Logic worth $11,461,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mackenzie Financial Corp grew its holdings in Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after acquiring an additional 35,722 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of Cirrus Logic by 2.1% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after purchasing an additional 363 shares in the last quarter. UBS Group AG increased its holdings in shares of Cirrus Logic by 86.9% in the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 28,735 shares in the last quarter. FMR LLC lifted its stake in shares of Cirrus Logic by 4.5% in the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Cirrus Logic by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after buying an additional 105,577 shares in the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRUS has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. TD Cowen boosted their target price on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Susquehanna raised their price target on Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, February 7th. Barclays boosted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Finally, StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 20th. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Cirrus Logic currently has an average rating of “Buy” and an average target price of $96.43.

Cirrus Logic Stock Up 3.0 %

CRUS opened at $88.48 on Monday. The firm has a market cap of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99. The business’s fifty day simple moving average is $89.67 and its 200 day simple moving average is $82.86. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. As a group, equities analysts expect that Cirrus Logic, Inc. will post 4.79 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other news, CFO Venkatesh Nathamuni sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now owns 1,587 shares in the company, valued at $150,765. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares of the company’s stock, valued at $548,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now directly owns 1,587 shares in the company, valued at approximately $150,765. The disclosure for this sale can be found here. In the last three months, insiders sold 7,530 shares of company stock worth $700,292. Insiders own 0.89% of the company’s stock.

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 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 digital signal processing; boosted amplifiers; 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.