Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,351 shares of the semiconductor company’s stock after selling 2,249 shares during the period. Mutual of America Capital Management LLC owned approximately 0.06% of Cirrus Logic worth $2,774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CRUS. Wellington Management Group LLP grew its holdings in shares of Cirrus Logic by 183.8% during the first quarter. Wellington Management Group LLP now owns 1,972,087 shares of the semiconductor company’s stock valued at $167,214,000 after buying an additional 1,277,213 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Cirrus Logic by 1,389.2% during the first quarter. Envestnet Asset Management Inc. now owns 840,607 shares of the semiconductor company’s stock valued at $6,004,000 after buying an additional 784,161 shares during the last quarter. Norges Bank purchased a new stake in shares of Cirrus Logic during the fourth quarter valued at $43,435,000. FMR LLC grew its holdings in shares of Cirrus Logic by 4.5% during the third quarter. FMR LLC now owns 7,552,630 shares of the semiconductor company’s stock valued at $558,593,000 after buying an additional 327,269 shares during the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Cirrus Logic by 8,646.5% during the fourth quarter. Millennium Management LLC now owns 320,820 shares of the semiconductor company’s stock valued at $23,895,000 after buying an additional 317,152 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $95.00, for a total transaction of $95,000.00. Following the completion of the transaction, the chief financial officer now owns 1,587 shares in the company, valued at approximately $150,765. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the transaction, the chief financial officer now owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,530 shares of company stock worth $700,292. Company insiders own 0.89% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. TheStreet raised shares of Cirrus Logic from a “c+” rating to a “b-” rating in a report on Tuesday, January 23rd. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, February 7th. StockNews.com raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating in a report on Friday, April 12th. Barclays upped their price target on shares of Cirrus Logic from $90.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, January 16th. Finally, Susquehanna upped their price target on shares of Cirrus Logic from $85.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, February 7th. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $96.43.

Cirrus Logic Stock Performance

Shares of Cirrus Logic stock opened at $83.25 on Friday. The firm has a 50-day simple moving average of $90.69 and a two-hundred day simple moving average of $81.56. The company has a market cap of $4.49 billion, a P/E ratio of 26.43 and a beta of 1.00. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $95.87.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.70 by $0.83. The business had revenue of $618.98 million during the quarter, compared to the consensus estimate of $539.55 million. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. Equities research analysts forecast that Cirrus Logic, Inc. will post 4.79 EPS for the current 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 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 digital signal processing; boosted amplifiers; 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.