Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Holderness Investments Co.

Holderness Investments Co. cut its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.0% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 46,698 shares of the semiconductor company’s stock after selling 466 shares during the period. Cirrus Logic makes up approximately 1.0% of Holderness Investments Co.’s holdings, making the stock its 20th largest holding. Holderness Investments Co.’s holdings in Cirrus Logic were worth $4,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. Huntington National Bank lifted its position in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Cirrus Logic during the 4th quarter worth approximately $28,000. Westside Investment Management Inc. acquired a new position in Cirrus Logic during the 3rd quarter worth approximately $35,000. Sound Income Strategies LLC acquired a new position in Cirrus Logic during the 4th quarter worth approximately $46,000. Finally, R Squared Ltd acquired a new position in Cirrus Logic during the 4th quarter worth approximately $47,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Benchmark reissued a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Barclays upped their target price on 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 research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Trading Up 0.2 %

Shares of NASDAQ CRUS opened at $101.05 on Thursday. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 18.34 and a beta of 0.89. The business has a 50 day simple moving average of $103.48 and a 200-day simple moving average of $110.09.

Cirrus Logic (NASDAQ:CRUS) last issued 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 net margin of 16.55% and a return on equity of 16.60%. As a group, equities analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the transaction, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.02% 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 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.