Cirrus Logic, Inc. $CRUS Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,179 shares of the semiconductor company’s stock after selling 4,264 shares during the period. Bridgefront Capital LLC’s holdings in Cirrus Logic were worth $524,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Algert Global LLC increased its position in shares of Cirrus Logic by 16.2% during the third quarter. Algert Global LLC now owns 81,772 shares of the semiconductor company’s stock worth $10,245,000 after purchasing an additional 11,380 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Cirrus Logic by 83.3% in the 3rd quarter. Alliancebernstein L.P. now owns 158,265 shares of the semiconductor company’s stock valued at $19,829,000 after purchasing an additional 71,909 shares during the period. Schonfeld Strategic Advisors LLC boosted its position in shares of Cirrus Logic by 4.6% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 25,090 shares of the semiconductor company’s stock valued at $3,144,000 after purchasing an additional 1,111 shares during the period. Creative Planning grew its stake in Cirrus Logic by 36.4% during the 3rd quarter. Creative Planning now owns 24,077 shares of the semiconductor company’s stock worth $3,017,000 after buying an additional 6,422 shares during the last quarter. Finally, Lazard Asset Management LLC grew its stake in Cirrus Logic by 6.0% during the 3rd quarter. Lazard Asset Management LLC now owns 262,695 shares of the semiconductor company’s stock worth $32,913,000 after buying an additional 14,843 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Activity

In related news, EVP Scott Thomas sold 3,239 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the transaction, the executive vice president directly owned 30,393 shares of the company’s stock, valued at $4,304,560.59. This trade represents a 9.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Forsyth sold 21,806 shares of Cirrus Logic stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $135.15, for a total value of $2,947,080.90. Following the transaction, the chief executive officer directly owned 50,723 shares of the company’s stock, valued at approximately $6,855,213.45. This represents a 30.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 28,045 shares of company stock worth $3,835,300. Company insiders own 1.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CRUS shares. Stifel Nicolaus lifted their price target on Cirrus Logic from $150.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Barclays raised their target price on shares of Cirrus Logic from $110.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Loop Capital cut shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Cirrus Logic in a research report on Monday, December 29th. Finally, Benchmark increased their price target on shares of Cirrus Logic from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and a consensus target price of $146.86.

Cirrus Logic Stock Up 1.1%

NASDAQ:CRUS opened at $135.22 on Tuesday. The firm’s fifty day simple moving average is $133.94 and its 200-day simple moving average is $126.17. The stock has a market cap of $6.90 billion, a PE ratio of 17.82 and a beta of 1.12. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $146.88.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 3rd. The semiconductor company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.37 by $0.60. Cirrus Logic had a net margin of 20.47% and a return on equity of 20.41%. The firm had revenue of $580.62 million during the quarter, compared to analysts’ expectations of $531.43 million. During the same quarter last year, the business earned $2.51 earnings per share. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.