Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 55,687 shares of the semiconductor company’s stock after selling 185 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.10% of Cirrus Logic worth $5,544,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CRUS. Stonegate Investment Group LLC increased its stake in shares of Cirrus Logic by 5.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after acquiring an additional 90 shares during the last quarter. Atria Investments Inc grew its holdings in Cirrus Logic by 2.9% in the third quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the period. Nisa Investment Advisors LLC raised its stake in Cirrus Logic by 98.4% during the third 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 period. Captrust Financial Advisors boosted its holdings in shares of Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in shares of Cirrus Logic by 4.1% in the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 153 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

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 shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Performance

Cirrus Logic stock opened at $106.77 on Friday. The firm has a market capitalization of $5.67 billion, a PE ratio of 18.10 and a beta of 0.91. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The stock’s 50 day moving average price is $102.54 and its 200 day moving average price is $115.86.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. On average, analysts forecast that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on CRUS shares. Susquehanna upped their price objective on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, November 18th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus decreased their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. Finally, 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. 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Company 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.