Amalgamated Bank Cuts Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Amalgamated Bank cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,558 shares of the semiconductor company’s stock after selling 1,433 shares during the period. Amalgamated Bank’s holdings in Cirrus Logic were worth $3,354,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. acquired a new stake in Cirrus Logic in the 1st quarter worth approximately $40,000. Nisa Investment Advisors LLC boosted its stake in Cirrus Logic by 500.0% in the 1st quarter. Nisa Investment Advisors LLC now owns 480 shares of the semiconductor company’s stock worth $41,000 after purchasing an additional 400 shares in the last quarter. Edmond DE Rothschild Holding S.A. boosted its stake in Cirrus Logic by 81.9% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 862 shares of the semiconductor company’s stock worth $73,000 after purchasing an additional 388 shares in the last quarter. Signaturefd LLC boosted its stake in Cirrus Logic by 17.2% in the 1st quarter. Signaturefd LLC now owns 941 shares of the semiconductor company’s stock worth $80,000 after purchasing an additional 138 shares in the last quarter. Finally, JJJ Advisors Inc. boosted its stake in Cirrus Logic by 22.0% in the 1st quarter. JJJ Advisors Inc. now owns 1,065 shares of the semiconductor company’s stock worth $90,000 after purchasing an additional 192 shares in the last quarter. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $84.74, for a total value of $84,740.00. Following the completion of the sale, the director now owns 18,875 shares of the company’s stock, valued at approximately $1,599,467.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $84.74, for a total value of $84,740.00. Following the completion of the sale, the director now owns 18,875 shares of the company’s stock, valued at approximately $1,599,467.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Carl Jackson Alberty sold 1,823 shares of the company’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $88.24, for a total transaction of $160,861.52. Following the sale, the vice president now directly owns 33,014 shares of the company’s stock, valued at approximately $2,913,155.36. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Susquehanna Bancshares lowered their target price on shares of Cirrus Logic to $110.00 in a research note on Monday, July 25th. Needham & Company LLC lifted their price objective on shares of Cirrus Logic from $85.00 to $97.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Cowen lifted their price objective on shares of Cirrus Logic from $90.00 to $100.00 in a research note on Wednesday, August 3rd. Barclays decreased their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. Finally, Cowen lifted their price objective on shares of Cirrus Logic to $100.00 in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.60.

Cirrus Logic Price Performance

CRUS opened at $76.92 on Friday. The firm has a fifty day moving average price of $80.45 and a 200 day moving average price of $78.91. Cirrus Logic, Inc. has a 1 year low of $67.03 and a 1 year high of $95.84. The stock has a market cap of $4.30 billion, a P/E ratio of 12.99, a P/E/G ratio of 6.04 and a beta of 0.99.

Cirrus Logic announced that its board has initiated a share buyback program on Tuesday, August 2nd that allows the company to buyback $500.00 million in shares. This buyback authorization allows the semiconductor company to reacquire up to 10.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cirrus Logic Company Profile

(Get Rating)

Cirrus Logic, Inc, a fabless semiconductor company, provides low-power and high-precision mixed-signal processing solutions in the United States and internationally. It offers portable 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 processer; boosted amplifiers; 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, hearing augmentation, and active noise cancellation.

Featured Stories

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUSGet Rating).

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.