Truist Financial Corp Has $262,000 Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Truist Financial Corp lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,149 shares of the semiconductor company’s stock after selling 273 shares during the quarter. Truist Financial Corp’s holdings in Cirrus Logic were worth $262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of CRUS. FMR LLC lifted its holdings in shares of Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock worth $558,593,000 after buying an additional 327,269 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new position in Cirrus Logic in the third quarter valued at about $14,442,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Cirrus Logic by 3,235.9% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 181,640 shares of the semiconductor company’s stock valued at $13,434,000 after purchasing an additional 176,195 shares in the last quarter. Vanguard Group Inc. raised its stake in Cirrus Logic by 1.7% in the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares in the last quarter. Finally, Tudor Investment Corp Et Al acquired a new position in Cirrus Logic in the third quarter valued at about $7,744,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.6 %

Cirrus Logic stock opened at $113.72 on Wednesday. The stock has a market cap of $6.13 billion, a PE ratio of 23.07 and a beta of 0.99. The business’s 50-day moving average price is $93.05 and its two-hundred day moving average price is $86.10. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $114.20.

Analysts Set New Price Targets

A number of research analysts recently commented on CRUS shares. KeyCorp boosted their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Stifel Nicolaus boosted their price target on Cirrus Logic from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Susquehanna boosted their price target on Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday, May 8th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Tuesday, January 23rd. Finally, Benchmark cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $107.86.

Insider Transactions at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the sale, the senior vice president now directly owns 5,838 shares in the company, valued at $629,628.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the sale, the senior vice president now directly owns 5,838 shares in the company, valued at $629,628.30. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Justin E. Dougherty sold 3,280 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the sale, the senior vice president now owns 6,000 shares in the company, valued at $548,400. The disclosure for this sale can be found here. Company insiders own 0.89% of the company’s stock.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power, high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with digital signal processing; boosted amplifiers; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation.