Meeder Asset Management Inc. Reduces Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Meeder Asset Management Inc. cut its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 75.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,463 shares of the semiconductor company’s stock after selling 7,533 shares during the quarter. Meeder Asset Management Inc.’s holdings in Cirrus Logic were worth $245,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Citigroup Inc. lifted its holdings in Cirrus Logic by 137.1% in the 3rd quarter. Citigroup Inc. now owns 32,650 shares of the semiconductor company’s stock worth $4,055,000 after buying an additional 18,877 shares in the last quarter. Cerity Partners LLC increased its position in shares of Cirrus Logic by 401.4% during the third quarter. Cerity Partners LLC now owns 19,869 shares of the semiconductor company’s stock worth $2,468,000 after acquiring an additional 15,906 shares during the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of Cirrus Logic in the third quarter worth about $286,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Cirrus Logic by 6.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the semiconductor company’s stock valued at $1,482,000 after purchasing an additional 686 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after purchasing an additional 142 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CRUS shares. Benchmark reaffirmed a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays raised their price objective on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Price Performance

CRUS stock opened at $99.65 on Tuesday. The firm has a market cap of $5.30 billion, a price-to-earnings ratio of 18.09 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. The firm has a fifty day moving average price of $103.45 and a two-hundred day moving average price of $107.92.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data 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, analysts expect 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 business’s 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 sale, the executive vice president now directly owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is currently owned by company insiders.

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.