Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 4,017 shares of the semiconductor company’s stock after selling 136 shares during the period. Securian Asset Management Inc.’s holdings in Cirrus Logic were worth $400,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Huntington National Bank grew its position in Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 210 shares during the period. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $28,000. Westside Investment Management Inc. acquired a new stake in shares of Cirrus Logic in the third quarter valued at about $35,000. Sound Income Strategies LLC acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $46,000. Finally, R Squared Ltd acquired a new stake in shares of Cirrus Logic in the fourth quarter valued at about $47,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.5 %

CRUS opened at $100.86 on Wednesday. The firm has a market capitalization of $5.36 billion, a PE ratio of 18.30 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The firm’s 50-day moving average price is $103.57 and its 200 day moving average price is $110.15.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a return on equity of 16.60% and a net margin of 16.55%. As a group, analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.02% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CRUS. StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Benchmark upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a research report on Wednesday, February 5th. Finally, Barclays lifted their target price on shares of Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.86.

About Cirrus Logic

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.