Sumitomo Mitsui Trust Group Inc. Sells 1,305 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Sumitomo Mitsui Trust Group Inc. decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,039 shares of the semiconductor company’s stock after selling 1,305 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Cirrus Logic were worth $203,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Huntington National Bank lifted its holdings in Cirrus Logic by 10,500.0% in the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Cirrus Logic by 98.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Cirrus Logic in the 3rd quarter worth approximately $31,000. Westside Investment Management Inc. acquired a new stake in Cirrus Logic in the 3rd quarter worth approximately $35,000. Finally, Sound Income Strategies LLC acquired a new stake in Cirrus Logic in the 4th quarter worth approximately $46,000. Institutional investors own 87.96% of the company’s stock.

Insider Buying and Selling 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 value of $205,100.00. Following the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report 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 report on Monday, November 18th. Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Finally, StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report 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’s stock. According to MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Trading Up 2.0 %

CRUS opened at $109.06 on Friday. The stock has a market cap of $5.80 billion, a PE ratio of 19.79 and a beta of 0.91. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The stock’s 50 day simple moving average is $102.58 and its 200-day simple moving average is $114.88.

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

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.