Handelsbanken Fonder AB Sells 500 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Handelsbanken Fonder AB trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.2% in the 4th quarter, HoldingsChannel reports. The fund owned 15,195 shares of the semiconductor company’s stock after selling 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Cirrus Logic were worth $1,513,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CRUS. Huntington National Bank raised its position in shares of Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after buying an additional 120 shares during the last quarter. Westside Investment Management Inc. purchased a new position in Cirrus Logic during the 3rd quarter worth $35,000. Sound Income Strategies LLC purchased a new position in Cirrus Logic during the 4th quarter worth $46,000. Finally, R Squared Ltd purchased a new position in Cirrus Logic during the 4th quarter worth $47,000. 87.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CRUS has been the topic of several research analyst reports. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research note on Wednesday, February 5th. Stifel Nicolaus dropped their target price 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. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note 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 target price on the stock. Finally, Susquehanna boosted their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares in the company, valued at $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 available through the SEC website. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $109.83 on Thursday. The business’s 50-day simple moving average is $103.33 and its two-hundred day simple moving average is $114.15. The company has a market cap of $5.84 billion, a PE ratio of 19.93 and a beta of 0.91. 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 earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates 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, analysts predict 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.