Yousif Capital Management LLC Sells 883 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Yousif Capital Management LLC lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.5% during the fourth quarter, Holdings Channel reports. The firm owned 18,697 shares of the semiconductor company’s stock after selling 883 shares during the period. Yousif Capital Management LLC’s holdings in Cirrus Logic were worth $1,862,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CRUS. CWM LLC lifted its holdings in shares of Cirrus Logic by 39.6% in the third quarter. CWM LLC now owns 5,080 shares of the semiconductor company’s stock valued at $631,000 after purchasing an additional 1,440 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in Cirrus Logic by 41.8% during the third quarter. Ritholtz Wealth Management now owns 3,772 shares of the semiconductor company’s stock worth $469,000 after acquiring an additional 1,112 shares during the period. Creative Planning lifted its holdings in Cirrus Logic by 35.7% during the third quarter. Creative Planning now owns 10,200 shares of the semiconductor company’s stock worth $1,267,000 after acquiring an additional 2,682 shares during the period. Kapitalo Investimentos Ltda lifted its holdings in Cirrus Logic by 76.9% during the third quarter. Kapitalo Investimentos Ltda now owns 2,963 shares of the semiconductor company’s stock worth $368,000 after acquiring an additional 1,288 shares during the period. Finally, nVerses Capital LLC bought a new stake in Cirrus Logic during the third quarter worth $435,000. Institutional investors own 87.96% of the company’s stock.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction 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 $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.02% of the stock is owned by company insiders.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $103.51 on Wednesday. The company has a market capitalization of $5.50 billion, a P/E ratio of 18.79 and a beta of 0.91. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The business has a fifty day simple moving average of $102.42 and a two-hundred day simple moving average of $115.27.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, analysts anticipate that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

CRUS has been the topic of a number of recent analyst reports. Loop Capital initiated coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target on the stock. Susquehanna lifted their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. Barclays lifted their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $132.86.

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.