Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Denali Advisors LLC

Denali Advisors LLC decreased its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,907 shares of the semiconductor company’s stock after selling 400 shares during the quarter. Denali Advisors LLC’s holdings in Cirrus Logic were worth $289,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRUS. Allianz Asset Management GmbH raised its holdings in Cirrus Logic by 137.2% in the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after purchasing an additional 604,431 shares during the period. Pacer Advisors Inc. raised its holdings 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. FMR LLC raised its holdings in Cirrus Logic by 6.3% in the 3rd quarter. FMR LLC now owns 3,678,141 shares of the semiconductor company’s stock worth $456,862,000 after purchasing an additional 217,404 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Cirrus Logic by 443.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock worth $21,742,000 after purchasing an additional 178,469 shares during the period. Finally, Burney Co. raised its holdings 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 purchasing an additional 142,430 shares during the period. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays increased their target price on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Loop Capital assumed coverage on Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price for the company. Susquehanna increased their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Stifel Nicolaus reduced their target price on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Finally, Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the 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 approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.02% of the stock is currently owned by company insiders.

Cirrus Logic Stock Performance

NASDAQ:CRUS opened at $102.49 on Friday. Cirrus Logic, Inc. has a one year low of $81.30 and a one year high of $147.46. The stock has a market cap of $5.45 billion, a PE ratio of 18.60 and a beta of 0.91. The stock has a 50 day moving average price of $103.38 and a 200 day moving average price of $114.06.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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 net margin of 16.55% and a return on equity of 16.60%. As a group, analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

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.