LSV Asset Management Cuts Stake in Cirrus Logic, Inc. (NASDAQ:CRUS)

LSV Asset Management lowered its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,296,519 shares of the semiconductor company’s stock after selling 10,900 shares during the period. LSV Asset Management owned about 2.41% of Cirrus Logic worth $107,857,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Mackenzie Financial Corp grew its stake in Cirrus Logic by 1.5% during the 4th 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 in the last quarter. Linden Thomas Advisory Services LLC grew its stake in Cirrus Logic by 2.1% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,673 shares of the semiconductor company’s stock valued at $1,470,000 after acquiring an additional 363 shares in the last quarter. UBS Group AG boosted its holdings in Cirrus Logic by 86.9% in the 3rd quarter. UBS Group AG now owns 61,811 shares of the semiconductor company’s stock valued at $4,572,000 after purchasing an additional 28,735 shares during the last quarter. FMR LLC boosted its holdings in Cirrus Logic by 4.5% in the 3rd quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after purchasing an additional 327,269 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cirrus Logic by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock valued at $465,923,000 after purchasing an additional 105,577 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 3.0 %

CRUS traded up $2.57 during trading hours on Friday, hitting $88.48. 325,867 shares of the company’s stock were exchanged, compared to its average volume of 312,806. Cirrus Logic, Inc. has a 12-month low of $65.02 and a 12-month high of $95.87. The firm has a 50 day moving average of $89.67 and a 200 day moving average of $82.68. The firm has a market cap of $4.77 billion, a P/E ratio of 28.09 and a beta of 0.99.

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

Analyst Ratings Changes

Several equities analysts have weighed in on CRUS shares. Stifel Nicolaus boosted their target price on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. Barclays upped their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, January 16th. TheStreet upgraded shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Susquehanna upped their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, February 7th. Finally, TD Cowen upped their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, Cirrus Logic has an average rating of “Buy” and a consensus target price of $96.43.

Insider Buying and Selling at Cirrus Logic

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

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.