Los Angeles Capital Management LLC Lowers Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Los Angeles Capital Management LLC trimmed its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,227 shares of the semiconductor company’s stock after selling 5,733 shares during the quarter. Los Angeles Capital Management LLC owned 0.12% of Cirrus Logic worth $6,595,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its position in Cirrus Logic by 21.9% during 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Cirrus Logic by 4.7% in the third 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. grew its holdings in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after buying an additional 69,006 shares during the last quarter. Sheaff Brock Investment Advisors LLC purchased a new stake in shares of Cirrus Logic during the third quarter valued at approximately $1,752,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Cirrus Logic during the third quarter valued at approximately $2,543,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CRUS. Loop Capital began coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 price objective on the stock. Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Wednesday, February 5th. Stifel Nicolaus dropped their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Barclays boosted their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Susquehanna raised their price target on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. One 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Stock Performance

CRUS stock opened at $109.83 on Thursday. The business’s 50-day moving average is $103.33 and its two-hundred day moving average is $114.15. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 19.93 and a beta of 0.91. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last announced 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%. Equities analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insiders Place Their Bets

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 stock was 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 $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.02% of the stock is currently owned by company insiders.

About Cirrus Logic

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.