Aviva PLC Cuts Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Aviva PLC decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 35.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,415 shares of the semiconductor company’s stock after selling 7,212 shares during the period. Aviva PLC’s holdings in Cirrus Logic were worth $999,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Denali Advisors LLC lifted its holdings in Cirrus Logic by 33.3% during the fourth quarter. Denali Advisors LLC now owns 400 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 100 shares during the period. Covington Capital Management increased its position in shares of Cirrus Logic by 100.0% during the 3rd quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 200 shares during the last quarter. Hollencrest Capital Management purchased a new position in shares of Cirrus Logic in the 4th quarter worth about $55,000. EverSource Wealth Advisors LLC grew its position in Cirrus Logic by 201.1% during the third quarter. EverSource Wealth Advisors LLC now owns 801 shares of the semiconductor company’s stock valued at $55,000 after buying an additional 535 shares during the period. Finally, Parallel Advisors LLC increased its holdings in Cirrus Logic by 24.3% during the fourth quarter. Parallel Advisors LLC now owns 940 shares of the semiconductor company’s stock worth $70,000 after buying an additional 184 shares during the last quarter. Institutional investors own 91.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CRUS shares. Cowen lifted their price target on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Friday, February 3rd. Loop Capital upped their price target on Cirrus Logic from $100.00 to $115.00 in a research report on Monday, February 6th. KeyCorp decreased their price objective on Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, April 24th. Benchmark upped their price objective on shares of Cirrus Logic from $86.00 to $110.00 and gave the company a “buy” rating in a report on Friday, February 3rd. Finally, TD Cowen reduced their target price on shares of Cirrus Logic from $110.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, May 5th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic presently has a consensus rating of “Moderate Buy” and an average price target of $102.92.

Cirrus Logic Stock Down 1.5 %

NASDAQ:CRUS opened at $78.11 on Friday. The stock has a market cap of $4.32 billion, a P/E ratio of 25.44, a PEG ratio of 12.02 and a beta of 0.96. The business’s 50-day moving average price is $92.77 and its two-hundred day moving average price is $87.87. Cirrus Logic, Inc. has a twelve month low of $61.94 and a twelve month high of $111.15.

Insider Buying and Selling

In other Cirrus Logic news, SVP Scott Thomas sold 10,261 shares of the business’s stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $109.65, for a total value of $1,125,118.65. Following the completion of the transaction, the senior vice president now owns 20,554 shares of the company’s stock, valued at approximately $2,253,746.10. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

Cirrus Logic Profile

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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.