Cirrus Logic, Inc. $CRUS Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 69.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,590 shares of the semiconductor company’s stock after selling 317,990 shares during the period. Jupiter Asset Management Ltd. owned 0.28% of Cirrus Logic worth $17,865,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Hantz Financial Services Inc. grew its position in shares of Cirrus Logic by 1,660.0% in the second quarter. Hantz Financial Services Inc. now owns 264 shares of the semiconductor company’s stock valued at $28,000 after purchasing an additional 249 shares in the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Cirrus Logic in the 3rd quarter valued at $46,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Cirrus Logic during the 2nd quarter worth $39,000. Rothschild Investment LLC acquired a new position in shares of Cirrus Logic during the 3rd quarter valued at about $48,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of Cirrus Logic by 2,406.3% in the third quarter. SJS Investment Consulting Inc. now owns 401 shares of the semiconductor company’s stock valued at $50,000 after purchasing an additional 385 shares during the period. 87.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $141.63, for a total transaction of $458,739.57. Following the sale, the executive vice president directly owned 30,393 shares in the company, valued at $4,304,560.59. This represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Justin E. Dougherty sold 3,000 shares of the stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $143.16, for a total transaction of $429,480.00. Following the sale, the executive vice president directly owned 5,876 shares in the company, valued at $841,208.16. This represents a 33.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,045 shares of company stock valued at $3,835,300 in the last three months. 1.16% of the stock is owned by corporate insiders.

Cirrus Logic Stock Up 1.3%

Shares of NASDAQ CRUS opened at $142.14 on Friday. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 18.73 and a beta of 1.12. Cirrus Logic, Inc. has a 52-week low of $75.83 and a 52-week high of $146.88. The business’s 50 day moving average is $128.31 and its two-hundred day moving average is $122.91.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, topping the consensus estimate of $2.37 by $0.60. The business had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business posted $2.51 earnings per share. Analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRUS. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Cirrus Logic in a research note on Monday, December 29th. KeyCorp raised their price target on shares of Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Williams Trading set a $150.00 price objective on Cirrus Logic in a report on Wednesday, November 5th. Barclays raised their target price on Cirrus Logic from $100.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 4th. Finally, Stifel Nicolaus upped their price target on Cirrus Logic from $150.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $145.43.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.