Yousif Capital Management LLC Sells 883 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Yousif Capital Management LLC reduced its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,697 shares of the semiconductor company’s stock after selling 883 shares during the quarter. Yousif Capital Management LLC’s holdings in Cirrus Logic were worth $1,862,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank raised its position 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 raised its position in Cirrus Logic by 98.4% in the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Cirrus Logic in the third quarter valued at about $31,000. Westside Investment Management Inc. bought a new position in Cirrus Logic in the third quarter valued at about $35,000. Finally, Sound Income Strategies LLC bought a new position in Cirrus Logic in the fourth quarter valued at about $46,000. 87.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ CRUS opened at $103.51 on Wednesday. The business has a 50 day simple moving average of $102.42 and a 200 day simple moving average of $115.27. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The stock has a market capitalization of $5.50 billion, a P/E ratio of 18.79 and a beta of 0.91.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. Equities analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on CRUS. Loop Capital assumed 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. Susquehanna increased their price target on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Tuesday, November 5th. Barclays increased their price target 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. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

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.