Virtu Financial LLC Sells 4,996 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Virtu Financial LLC decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 65.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,582 shares of the semiconductor company’s stock after selling 4,996 shares during the quarter. Virtu Financial LLC’s holdings in Cirrus Logic were worth $257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of CRUS. FMR LLC raised its stake in shares of Cirrus Logic by 6.3% during the third quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after acquiring an additional 217,404 shares in the last quarter. Pacer Advisors Inc. raised its position in Cirrus Logic by 44.0% in the 4th quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after purchasing an additional 387,346 shares during the period. Geode Capital Management LLC lifted its stake in 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 purchasing an additional 50,582 shares during the last quarter. Allianz Asset Management GmbH boosted its position in Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after buying an additional 604,431 shares during the period. Finally, Royce & Associates LP grew its stake in shares of Cirrus Logic by 4.1% during the fourth quarter. Royce & Associates LP now owns 647,332 shares of the semiconductor company’s stock valued at $64,461,000 after buying an additional 25,746 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays increased their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Stock Down 3.6 %

Shares of Cirrus Logic stock opened at $99.51 on Friday. The company has a market cap of $5.29 billion, a PE ratio of 18.06 and a beta of 0.89. The business has a 50 day moving average of $103.47 and a 200 day moving average of $108.52. Cirrus Logic, Inc. has a 52 week low of $81.30 and a 52 week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing the consensus estimate 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, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.