Robeco Institutional Asset Management B.V. Sells 261,137 Shares of Cirrus Logic, Inc. $CRUS

Robeco Institutional Asset Management B.V. lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 37.9% in the 3rd quarter, Holdings Channel reports. The firm owned 427,809 shares of the semiconductor company’s stock after selling 261,137 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Cirrus Logic were worth $51,324,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CRUS. CWA Asset Management Group LLC raised its holdings in Cirrus Logic by 0.8% in the 3rd quarter. CWA Asset Management Group LLC now owns 27,455 shares of the semiconductor company’s stock worth $3,294,000 after acquiring an additional 209 shares during the period. Cordatus Wealth Management LLC bought a new stake in Cirrus Logic during the third quarter valued at about $342,000. Novem Group grew its position in shares of Cirrus Logic by 8.9% in the third quarter. Novem Group now owns 6,766 shares of the semiconductor company’s stock valued at $812,000 after purchasing an additional 553 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $529,000. Finally, Pension & Wealth Management Advisors Inc. bought a new position in shares of Cirrus Logic in the third quarter worth about $170,000. 87.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of research analyst reports. Weiss Ratings raised Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Stifel Nicolaus cut their price target on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Susquehanna cut their price target on Cirrus Logic from $200.00 to $170.00 and set a “positive” rating for the company in a report on Wednesday. KeyCorp cut Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $147.86.

Cirrus Logic Stock Down 0.1%

Shares of CRUS opened at $110.49 on Friday. Cirrus Logic, Inc. has a 12-month low of $105.10 and a 12-month high of $180.42. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 13.52 and a beta of 1.17. The stock’s 50-day moving average price is $114.76 and its 200 day moving average price is $140.53.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.81 by $0.03. Cirrus Logic had a return on equity of 20.61% and a net margin of 21.00%. The firm had revenue of $459.72 million during the quarter, compared to analysts’ expectations of $460.32 million. During the same quarter in the prior year, the firm posted $1.51 EPS. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that Cirrus Logic, Inc. will post 7.20 EPS for the current year.

Insider Activity

In other news, EVP Jeffrey Baumgartner sold 1,166 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $107.75, for a total transaction of $125,636.50. Following the sale, the executive vice president directly owned 11,741 shares in the company, valued at approximately $1,265,092.75. The trade was a 9.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,498 shares of company stock worth $401,850 in the last quarter. Insiders own 1.20% of the company’s stock.

About Cirrus Logic

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.