Cirrus Logic, Inc. $CRUS Shares Sold by Arbejdsmarkedets Tillaegspension

Arbejdsmarkedets Tillaegspension lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 4.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 177,291 shares of the semiconductor company’s stock after selling 8,261 shares during the period. Arbejdsmarkedets Tillaegspension’s holdings in Cirrus Logic were worth $25,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CRUS. Caitong International Asset Management Co. Ltd boosted its position in shares of Cirrus Logic by 7,333.3% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 223 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic in the fourth quarter valued at approximately $33,000. Torren Management LLC purchased a new stake in Cirrus Logic in the fourth quarter valued at approximately $35,000. Kestra Advisory Services LLC acquired a new position in Cirrus Logic during the fourth quarter worth $36,000. Finally, CIBC Private Wealth Group LLC boosted its position in shares of Cirrus Logic by 29.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 389 shares of the semiconductor company’s stock worth $46,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRUS shares. Jefferies Financial Group upgraded shares of Cirrus Logic to a “buy” rating in a report on Thursday, June 4th. Zacks Research downgraded shares of Cirrus Logic from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays upped their price objective on Cirrus Logic from $120.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Stifel Nicolaus set a $197.00 target price on Cirrus Logic in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Cirrus Logic in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.71.

Cirrus Logic Price Performance

CRUS opened at $150.36 on Monday. The stock has a market cap of $7.59 billion, a P/E ratio of 19.18 and a beta of 1.17. The stock’s 50 day simple moving average is $162.29 and its 200 day simple moving average is $147.34. Cirrus Logic, Inc. has a 1-year low of $92.02 and a 1-year high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 6th. The semiconductor company reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.19. Cirrus Logic had a net margin of 20.75% and a return on equity of 20.48%. The firm had revenue of $448.52 million for the quarter, compared to analyst estimates of $442.25 million. During the same quarter last year, the business earned $1.67 earnings per share. Cirrus Logic’s revenue was up 5.7% compared to the same quarter last year. Research analysts expect that Cirrus Logic, Inc. will post 8.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Alexander M. Davern sold 1,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $159.00, for a total transaction of $159,000.00. Following the sale, the director owned 20,531 shares in the company, valued at $3,264,429. This represents a 4.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott Thomas sold 1,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $180.04, for a total value of $234,052.00. Following the completion of the sale, the executive vice president owned 31,048 shares in the company, valued at approximately $5,589,881.92. This represents a 4.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 22,299 shares of company stock worth $3,581,647. Company insiders own 1.20% of the company’s stock.

Cirrus Logic 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.