Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Martingale Asset Management L P

Martingale Asset Management L P lessened its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 17.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,129 shares of the semiconductor company’s stock after selling 7,993 shares during the quarter. Martingale Asset Management L P’s holdings in Cirrus Logic were worth $3,697,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in CRUS. Geode Capital Management LLC lifted its position 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 worth $141,414,000 after buying an additional 50,582 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Cirrus Logic by 30.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after buying an additional 69,006 shares in the last quarter. Burney Co. lifted its position in Cirrus Logic by 1,205.3% in the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock worth $15,360,000 after buying an additional 142,430 shares in the last quarter. KBC Group NV lifted its position in Cirrus Logic by 52.5% in the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock worth $189,000 after buying an additional 653 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Cirrus Logic by 60.1% in the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company’s stock worth $20,625,000 after buying an additional 62,757 shares in the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 16.5 %

CRUS opened at $90.23 on Thursday. The stock has a market capitalization of $4.80 billion, a PE ratio of 16.38 and a beta of 0.95. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The firm has a 50-day moving average price of $101.20 and a two-hundred day moving average price of $105.80.

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

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’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 transaction of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $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 can be accessed through this link. 1.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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