Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by CANADA LIFE ASSURANCE Co

by · The Markets Daily

CANADA LIFE ASSURANCE Co cut its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report) by 6.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 46,303 shares of the semiconductor company’s stock after selling 3,286 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Cirrus Logic were worth $4,606,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Cirrus Logic during the 3rd quarter worth approximately $941,000. Westside Investment Management Inc. purchased a new position in shares of Cirrus Logic in the 3rd quarter valued at $35,000. Tidal Investments LLC lifted its holdings in shares of Cirrus Logic by 118.7% during the 3rd quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company’s stock valued at $1,834,000 after acquiring an additional 8,016 shares in the last quarter. Franklin Resources Inc. boosted its position in Cirrus Logic by 60.1% during the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company’s stock worth $20,625,000 after purchasing an additional 62,757 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic Price Performance

CRUS opened at $92.40 on Friday. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The stock has a market capitalization of $4.91 billion, a PE ratio of 16.77 and a beta of 0.95. The firm’s fifty day moving average price is $97.15 and its 200 day moving average price is $103.35.

Cirrus Logic (NASDAQ:CRUS – Get Free Report) last issued its quarterly 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, equities research analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. This trade represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of several analyst reports. Barclays dropped their target price on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday. Benchmark reissued a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their price target on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 17th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.86.

Read Our Latest Stock Report on Cirrus Logic

Cirrus Logic Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUS – Free Report).