Vanguard Group Inc. Cuts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Vanguard Group Inc. lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,396,032 shares of the semiconductor company’s stock after selling 1,757 shares during the quarter. Vanguard Group Inc. owned 0.12% of Cirrus Logic worth $636,917,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Cirrus Logic by 4.7% in the third quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after acquiring an additional 50,582 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Cirrus Logic in the 3rd quarter valued at $2,543,000. Burney Co. lifted its position in shares of Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after purchasing an additional 142,430 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Cirrus Logic by 52.5% during the fourth quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock worth $189,000 after purchasing an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Barclays boosted their target price 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. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average price target of $132.86.

Insider Buying and Selling

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.02% of the stock is owned by company insiders.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $99.51 on Monday. The stock has a 50-day simple moving average of $103.47 and a 200-day simple moving average of $108.16. The company has a market capitalization of $5.29 billion, a P/E ratio of 18.06 and a beta of 0.89. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates 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 forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic 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.