Magnetar Financial LLC Sells 460 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Magnetar Financial LLC lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,980 shares of the semiconductor company’s stock after selling 460 shares during the period. Magnetar Financial LLC’s holdings in Cirrus Logic were worth $396,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Cirrus Logic by 21.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after purchasing an additional 129,457 shares during the period. Geode Capital Management LLC boosted its holdings in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after purchasing an additional 50,582 shares during the period. JPMorgan Chase & Co. boosted its holdings in Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in Cirrus Logic in the 3rd quarter valued at about $2,543,000. Finally, Hancock Whitney Corp acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at approximately $898,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Price Performance

CRUS stock opened at $99.79 on Friday. The company has a 50 day simple moving average of $103.35 and a 200 day simple moving average of $109.50. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 18.11 and a beta of 0.89. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) 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%. On average, equities research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value 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 approximately $833,000. This represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the subject of several analyst reports. Barclays boosted 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. Benchmark restated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday. Finally, StockNews.com upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Company 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.