Cirrus Logic, Inc. (NASDAQ:CRUS) Position Cut by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 1.0% in the 4th quarter, Holdings Channel reports. The fund owned 215,994 shares of the semiconductor company’s stock after selling 2,148 shares during the period. Principal Financial Group Inc.’s holdings in Cirrus Logic were worth $16,087,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Denali Advisors LLC raised its stake in shares of Cirrus Logic by 33.3% during the fourth quarter. Denali Advisors LLC now owns 400 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 100 shares in the last quarter. Treasurer of the State of North Carolina grew its holdings in Cirrus Logic by 3.4% during the fourth quarter. Treasurer of the State of North Carolina now owns 25,973 shares of the semiconductor company’s stock worth $1,934,000 after acquiring an additional 846 shares during the period. Edmond DE Rothschild Holding S.A. raised its position in Cirrus Logic by 12.7% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,564 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 176 shares in the last quarter. UBS Group AG lifted its holdings in Cirrus Logic by 156.8% in the 4th quarter. UBS Group AG now owns 31,757 shares of the semiconductor company’s stock valued at $2,365,000 after acquiring an additional 19,392 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. boosted its position in shares of Cirrus Logic by 25.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 46,500 shares of the semiconductor company’s stock valued at $3,463,000 after purchasing an additional 9,300 shares in the last quarter. Institutional investors and hedge funds own 91.78% of the company’s stock.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $75.75 on Wednesday. Cirrus Logic, Inc. has a one year low of $61.94 and a one year high of $111.15. The business’s 50-day moving average price is $91.78 and its two-hundred day moving average price is $88.11. The company has a market capitalization of $4.19 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 11.84 and a beta of 0.96.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, SVP Scott Thomas sold 10,261 shares of Cirrus Logic 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 sale, the senior vice president now directly owns 20,554 shares in the company, valued at $2,253,746.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on CRUS shares. Loop Capital lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating and decreased their price target for the stock from $92.00 to $80.00 in a research report on Monday. TD Cowen decreased their price target on Cirrus Logic from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, May 5th. TheStreet cut shares of Cirrus Logic from a “b+” rating to a “c+” rating in a report on Thursday, May 4th. Stifel Nicolaus dropped their target price on shares of Cirrus Logic from $108.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Finally, StockNews.com initiated coverage on shares of Cirrus Logic in a research report on Thursday, May 18th. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $100.00.

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.