HighTower Advisors LLC Has $3.21 Million Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

HighTower Advisors LLC lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,980 shares of the semiconductor company’s stock after selling 11,034 shares during the period. HighTower Advisors LLC’s holdings in Cirrus Logic were worth $3,211,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Covington Capital Management lifted its position in Cirrus Logic by 100.0% in the third quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock worth $28,000 after purchasing an additional 200 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in Cirrus Logic by 201.1% during the third quarter. EverSource Wealth Advisors LLC now owns 801 shares of the semiconductor company’s stock worth $55,000 after buying an additional 535 shares during the last quarter. Hollencrest Capital Management bought a new position in Cirrus Logic during the fourth quarter worth about $55,000. Parallel Advisors LLC boosted 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. Finally, Covestor Ltd boosted its holdings in Cirrus Logic by 66.9% during the first quarter. Covestor Ltd now owns 1,078 shares of the semiconductor company’s stock worth $91,000 after buying an additional 432 shares during the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Insider Activity at Cirrus Logic

In other news, SVP Scott Thomas sold 10,261 shares of the company’s stock in a transaction dated Thursday, March 30th. The stock was 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 directly owns 20,554 shares in the company, valued at approximately $2,253,746.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRUS shares. Stifel Nicolaus cut their price objective on Cirrus Logic from $108.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday, April 19th. Cowen boosted their price target on Cirrus Logic from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Friday, February 3rd. KeyCorp lowered their price target on Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, April 24th. Benchmark boosted their target price on Cirrus Logic from $86.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. Finally, StockNews.com assumed coverage on Cirrus Logic in a report on Thursday. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $102.92.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $78.11 on Monday. The company has a market capitalization of $4.32 billion, a P/E ratio of 25.44, a P/E/G ratio of 12.02 and a beta of 0.96. Cirrus Logic, Inc. has a 1 year low of $61.94 and a 1 year high of $111.15. The business has a fifty day simple moving average of $92.77 and a two-hundred day simple moving average of $87.99.

About Cirrus Logic

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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.