Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 55.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,800 shares of the semiconductor company’s stock after selling 66,600 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of Cirrus Logic worth $5,357,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Westside Investment Management Inc. purchased a new stake in shares of Cirrus Logic in the 3rd quarter valued at $35,000. Kohmann Bosshard Financial Services LLC acquired a new stake in Cirrus Logic during the fourth quarter valued at $28,000. Headlands Technologies LLC acquired a new position in shares of Cirrus Logic in the fourth quarter worth about $39,000. Sound Income Strategies LLC acquired a new position in shares of Cirrus Logic in the fourth quarter worth about $46,000. Finally, R Squared Ltd purchased a new stake in shares of Cirrus Logic during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Price Performance

CRUS stock opened at $85.78 on Tuesday. Cirrus Logic, Inc. has a 1 year low of $75.83 and a 1 year high of $147.46. The firm has a market capitalization of $4.56 billion, a PE ratio of 15.57 and a beta of 0.95. The business has a 50 day simple moving average of $98.30 and a 200-day simple moving average of $103.74.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results 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 expect that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Barclays upped their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. Benchmark restated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research report on Wednesday, March 19th. Finally, Stifel Nicolaus cut their target price on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.86.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’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 sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.02% of the stock is owned by insiders.

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.