Cirrus Logic, Inc. (NASDAQ:CRUS) Position Trimmed by FourThought Financial LLC

FourThought Financial LLC trimmed its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 19.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,892 shares of the semiconductor company’s stock after selling 451 shares during the quarter. FourThought Financial LLC’s holdings in Cirrus Logic were worth $130,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CRUS. US Bancorp DE boosted its holdings in Cirrus Logic by 12.3% during the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock worth $145,000 after buying an additional 188 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Cirrus Logic by 33.8% during the first quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock worth $3,140,000 after buying an additional 9,349 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Cirrus Logic by 10.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock worth $1,780,000 after buying an additional 2,051 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Cirrus Logic by 8.9% during the first quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock worth $2,759,000 after buying an additional 2,600 shares in the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Cirrus Logic by 1.6% during the first quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock worth $2,546,000 after buying an additional 468 shares in the last quarter. 91.78% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of recent analyst reports. Benchmark raised their price objective on shares of Cirrus Logic from $86.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. KeyCorp raised their price objective on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 14th. Needham & Company LLC raised their price objective on shares of Cirrus Logic from $85.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. Susquehanna raised their price objective on shares of Cirrus Logic from $105.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, February 3rd. Finally, Barclays raised their price objective on shares of Cirrus Logic from $85.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, January 23rd. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.27.

Cirrus Logic Stock Down 0.2 %

CRUS stock opened at $102.75 on Friday. Cirrus Logic, Inc. has a 12-month low of $61.94 and a 12-month high of $108.42. The company has a market cap of $5.68 billion, a price-to-earnings ratio of 18.09, a PEG ratio of 4.42 and a beta of 0.98. The company has a 50 day moving average of $96.71 and a two-hundred day moving average of $81.14.

Cirrus Logic (NASDAQ:CRUS – Get Rating) last released its earnings results on Thursday, February 2nd. The semiconductor company reported $2.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.99 by $0.41. Cirrus Logic had a net margin of 16.22% and a return on equity of 22.50%. The company had revenue of $590.58 million during the quarter, compared to the consensus estimate of $543.55 million. During the same quarter in the prior year, the firm earned $2.28 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.25 EPS for the current year.

Insider Activity

In other news, SVP Scott Arnold Anderson sold 29,229 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $105.36, for a total transaction of $3,079,567.44. Following the transaction, the senior vice president now owns 8,979 shares in the company, valued at approximately $946,027.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Justin E. Dougherty sold 16,213 shares of the firm’s stock in a transaction on Tuesday, February 7th. The shares were sold at an average price of $103.67, for a total transaction of $1,680,801.71. Following the transaction, the senior vice president now owns 9,280 shares in the company, valued at approximately $962,057.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Scott Arnold Anderson sold 29,229 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $105.36, for a total transaction of $3,079,567.44. Following the transaction, the senior vice president now owns 8,979 shares in the company, valued at approximately $946,027.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,906 shares of company stock worth $5,322,371. 0.89% of the stock is owned by corporate insiders.

About Cirrus Logic

(Get Rating)

Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.