Mercer Global Advisors Inc. ADV Lowers Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mercer Global Advisors Inc. ADV cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 12.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,092 shares of the semiconductor company’s stock after selling 596 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Cirrus Logic were worth $305,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Covington Capital Management boosted its position in Cirrus Logic by 100.0% during the third quarter. Covington Capital Management now owns 400 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 200 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of 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 last quarter. Hollencrest Capital Management acquired a new stake in Cirrus Logic in the fourth quarter valued at approximately $55,000. Parallel Advisors LLC grew its holdings in Cirrus Logic by 24.3% in the fourth quarter. Parallel Advisors LLC now owns 940 shares of the semiconductor company’s stock worth $70,000 after purchasing an additional 184 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of 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 purchasing an additional 432 shares in the last quarter. 91.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CRUS. Benchmark boosted their target price on Cirrus Logic from $86.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 3rd. TheStreet lowered Cirrus Logic from a “b+” rating to a “c+” rating in a research note on Thursday, May 4th. Stifel Nicolaus decreased their price objective on shares of Cirrus Logic from $108.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, April 19th. KeyCorp dropped their target price on shares of Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Monday, April 24th. Finally, Needham & Company LLC raised their price target on shares of Cirrus Logic from $85.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $100.00.

Insider Transactions at Cirrus Logic

In related news, SVP Scott Thomas sold 10,261 shares of Cirrus Logic stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $109.65, for a total transaction 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 $2,253,746.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS opened at $74.29 on Thursday. The business’s 50-day moving average is $91.24 and its two-hundred day moving average is $88.01. The company has a market capitalization of $4.07 billion, a P/E ratio of 24.20, a P/E/G ratio of 12.16 and a beta of 0.96. Cirrus Logic, Inc. has a fifty-two week low of $61.94 and a fifty-two week high of $111.15.

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.