Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by IFP Advisors Inc

IFP Advisors Inc reduced its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 786 shares of the semiconductor company’s stock after selling 191 shares during the quarter. IFP Advisors Inc’s holdings in Cirrus Logic were worth $78,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank increased its stake in Cirrus Logic by 10,500.0% in the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after acquiring an additional 120 shares during the last quarter. Westside Investment Management Inc. acquired a new stake in Cirrus Logic during the third quarter worth about $35,000. Sound Income Strategies LLC acquired a new stake in Cirrus Logic during the fourth quarter worth about $46,000. Finally, R Squared Ltd acquired a new stake in Cirrus Logic during the fourth quarter worth about $47,000. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS opened at $105.39 on Thursday. The company has a market capitalization of $5.60 billion, a P/E ratio of 19.13 and a beta of 0.89. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The stock has a 50-day moving average price of $103.45 and a 200 day moving average price of $112.99.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research note on Wednesday, February 5th. Susquehanna upped their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, November 18th. Finally, Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price for the company. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

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.