Amalgamated Bank Sells 3,005 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Amalgamated Bank decreased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,771 shares of the semiconductor company’s stock after selling 3,005 shares during the quarter. Amalgamated Bank owned about 0.06% of Cirrus Logic worth $4,311,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of CRUS. Atlas Capital Advisors LLC increased its holdings in shares of Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock valued at $46,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Cirrus Logic by 79.5% during the second quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 210 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in shares of Cirrus Logic during the second quarter valued at approximately $77,000. Institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total value of $1,343,837.13. Following the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at approximately $637,212.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $131.71, for a total value of $1,343,837.13. Following the completion of the transaction, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares of the company’s stock, valued at $544,704.16. The disclosure for this sale can be found here. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Trading Down 1.6 %

CRUS stock opened at $123.11 on Friday. The stock has a market cap of $6.58 billion, a P/E ratio of 24.97 and a beta of 0.97. The stock’s fifty day simple moving average is $133.91 and its two-hundred day simple moving average is $115.41. Cirrus Logic, Inc. has a 1-year low of $65.02 and a 1-year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. The firm had revenue of $374.03 million for the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The business’s revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. As a group, analysts forecast that Cirrus Logic, Inc. will post 5.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CRUS shares. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 15th. Susquehanna lifted their target price on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Barclays lifted their target price on Cirrus Logic from $110.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Stifel Nicolaus lifted their target price on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, KeyCorp boosted their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.33.

Cirrus Logic 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 amplifiers; 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 integrated digital signal processing; 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 for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.