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

Sanctuary Advisors LLC reduced its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 23.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,051 shares of the semiconductor company’s stock after selling 2,799 shares during the quarter. Sanctuary Advisors LLC’s holdings in Cirrus Logic were worth $899,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CRUS. Pacer Advisors Inc. lifted its stake in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares in the last quarter. FMR LLC boosted its stake in Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after buying an additional 217,404 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Cirrus Logic by 443.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock valued at $21,742,000 after buying an additional 178,469 shares in the last quarter. Burney Co. raised its holdings in shares of Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after acquiring an additional 142,430 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Cirrus Logic during the 3rd quarter worth $16,340,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $102.49 on Friday. The company has a market capitalization of $5.45 billion, a PE ratio of 18.60 and a beta of 0.91. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The firm has a 50 day moving average price of $103.38 and a 200 day moving average price of $114.06.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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 year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research report on Wednesday, February 5th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna raised their target price 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 initiated coverage on Cirrus Logic in a research note on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price target on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.