Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,042 shares of the semiconductor company’s stock after selling 218 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cirrus Logic were worth $88,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Cirrus Logic by 9.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,495 shares of the semiconductor company’s stock worth $956,000 after purchasing an additional 984 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Cirrus Logic by 1.5% in the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock valued at $206,789,000 after acquiring an additional 35,722 shares during the last quarter. Vontobel Holding Ltd. acquired a new position in Cirrus Logic in the fourth quarter valued at $213,000. Louisiana State Employees Retirement System acquired a new position in Cirrus Logic in the fourth quarter valued at $1,256,000. Finally, Cardinal Capital Management boosted its holdings in Cirrus Logic by 1.2% in the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock valued at $1,379,000 after acquiring an additional 189 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS opened at $83.25 on Friday. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of 26.43 and a beta of 1.00. Cirrus Logic, Inc. has a 1 year low of $65.02 and a 1 year high of $95.87. The stock’s 50-day simple moving average is $90.69 and its 200-day simple moving average is $81.56.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.83. The firm had revenue of $618.98 million during the quarter, compared to analyst estimates of $539.55 million. Cirrus Logic had a return on equity of 16.13% and a net margin of 9.84%. As a group, research analysts predict that Cirrus Logic, Inc. will post 4.79 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the company. TD Cowen boosted their price objective on Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 12th. TheStreet upgraded Cirrus Logic from a “c+” rating to a “b-” rating in a research note on Tuesday, January 23rd. Barclays boosted their price objective on Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. Finally, Stifel Nicolaus boosted their price objective on Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $96.43.

Insider Activity at Cirrus Logic

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at $150,765. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of Cirrus Logic stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $91.40, for a total value of $299,792.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at $548,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total value of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at $150,765. The disclosure for this sale can be found here. Insiders sold a total of 7,530 shares of company stock valued at $700,292 over the last three months. 0.89% of the stock is owned by insiders.

Cirrus Logic 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 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 digital signal processing; boosted amplifiers; 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.