Mutual of America Capital Management LLC Sells 1,255 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Mutual of America Capital Management LLC lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,882 shares of the semiconductor company’s stock after selling 1,255 shares during the quarter. Mutual of America Capital Management LLC owned about 0.06% of Cirrus Logic worth $3,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Cirrus Logic by 2.1% during the first quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares in the last quarter. LSV Asset Management raised its stake in Cirrus Logic by 34.6% in the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after buying an additional 486,086 shares during the last quarter. Wellington Management Group LLP raised its stake in Cirrus Logic by 2.9% in the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock valued at $113,843,000 after buying an additional 38,659 shares during the last quarter. Earnest Partners LLC raised its stake in Cirrus Logic by 4.8% in the first quarter. Earnest Partners LLC now owns 1,318,381 shares of the semiconductor company’s stock valued at $122,029,000 after buying an additional 60,261 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its stake in Cirrus Logic by 307.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock valued at $58,777,000 after buying an additional 533,019 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Down 1.6 %

Shares of NASDAQ:CRUS opened at $123.11 on Monday. The business has a 50-day moving average price of $133.91 and a 200-day moving average price of $115.58. The stock has a market cap of $6.58 billion, a price-to-earnings ratio of 24.97 and a beta of 0.97. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $147.46.

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

Wall Street Analyst Weigh In

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

Insider Activity at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 10,203 shares of Cirrus Logic stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction 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 SEC, which can be accessed through this hyperlink. In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total value of $591,774.00. Following the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 4,838 shares in the company, valued at $637,212.98. The disclosure for this sale can be found here. 1.02% of the stock is owned by company insiders.

About Cirrus Logic

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.