Steward Partners Investment Advisory LLC Sells 628 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Steward Partners Investment Advisory LLC trimmed its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 57.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 471 shares of the semiconductor company’s stock after selling 628 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Cirrus Logic were worth $47,000 at the end of the most recent quarter.

Other institutional investors and hedge funds 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% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 210 shares during the period. Westside Investment Management Inc. bought a new position in Cirrus Logic during the third quarter valued at about $35,000. Kohmann Bosshard Financial Services LLC bought a new position in Cirrus Logic during the fourth quarter valued at about $28,000. Sound Income Strategies LLC bought a new position in Cirrus Logic during the fourth quarter valued at about $46,000. Finally, R Squared Ltd bought a new position in Cirrus Logic during the fourth quarter valued at about $47,000. 87.96% of the stock is currently owned by institutional investors.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s 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 transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.02% of the stock is owned by company insiders.

Cirrus Logic Price Performance

Shares of CRUS opened at $100.86 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of 18.30 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 business’s 50 day simple moving average is $103.57 and its 200-day simple moving average is $110.15.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock 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. Finally, Barclays upped their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus price target 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.