CIBC Private Wealth Group LLC Sells 188 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

CIBC Private Wealth Group LLC lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 38.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 300 shares of the semiconductor company’s stock after selling 188 shares during the period. CIBC Private Wealth Group LLC’s holdings in Cirrus Logic were worth $32,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Arrowstreet Capital Limited Partnership bought a new stake in shares of Cirrus Logic during the fourth quarter valued at approximately $1,691,000. DnB Asset Management AS raised its stake in Cirrus Logic by 52.1% in the fourth quarter. DnB Asset Management AS now owns 274,672 shares of the semiconductor company’s stock worth $27,352,000 after buying an additional 94,088 shares in the last quarter. denkapparat Operations GmbH bought a new position in Cirrus Logic in the fourth quarter worth approximately $228,000. Pictet Asset Management Holding SA raised its stake in Cirrus Logic by 15.7% in the fourth quarter. Pictet Asset Management Holding SA now owns 7,807 shares of the semiconductor company’s stock worth $777,000 after buying an additional 1,062 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in Cirrus Logic in the fourth quarter worth approximately $1,407,000. Institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRUS shares. Benchmark reissued a “buy” rating and issued a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays lifted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently 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 company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is owned by corporate insiders.

Cirrus Logic Price Performance

Shares of CRUS opened at $90.23 on Thursday. The firm has a market capitalization of $4.80 billion, a PE ratio of 16.38 and a beta of 0.95. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The company’s fifty day moving average price is $101.20 and its 200-day moving average price is $105.80.

Cirrus Logic (NASDAQ:CRUS) last announced 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, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

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.