Duality Advisers LP Lowers Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Duality Advisers LP lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 24.5% during the first quarter, Holdings Channel.com reports. The firm owned 20,604 shares of the semiconductor company’s stock after selling 6,698 shares during the period. Duality Advisers LP’s holdings in Cirrus Logic were worth $1,907,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CRUS. Venturi Wealth Management LLC boosted its position in shares of Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after purchasing an additional 178 shares during the period. Cardinal Capital Management boosted its position in shares of Cirrus Logic by 1.2% during the fourth quarter. Cardinal Capital Management now owns 16,576 shares of the semiconductor company’s stock worth $1,379,000 after buying an additional 189 shares during the period. Atlas Capital Advisors LLC grew its stake in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Cirrus Logic by 2.9% in the 4th quarter. Allworth Financial LP now owns 7,496 shares of the semiconductor company’s stock valued at $624,000 after buying an additional 213 shares during the period. Finally, Quadrant Capital Group LLC lifted its stake in Cirrus Logic by 72.3% during the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 214 shares in the last quarter. 87.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cirrus Logic

In other news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the sale, the senior vice president now owns 5,838 shares in the company, valued at approximately $629,628.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Carl Jackson Alberty sold 2,000 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $113.35, for a total value of $226,700.00. Following the completion of the sale, the vice president now directly owns 38,507 shares of the company’s stock, valued at approximately $4,364,768.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Justin E. Dougherty sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the transaction, the senior vice president now owns 5,838 shares in the company, valued at $629,628.30. The disclosure for this sale can be found here. Insiders have sold 18,706 shares of company stock worth $2,187,098 over the last three months. Insiders own 1.02% of the company’s stock.

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $136.96 on Friday. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $139.00. The firm has a market capitalization of $7.32 billion, a PE ratio of 27.78 and a beta of 0.94. The business’s fifty day moving average price is $119.27 and its 200 day moving average price is $98.03.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The business had revenue of $371.83 million for the quarter, compared to the consensus estimate of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Wall Street Analysts Forecast Growth

CRUS has been the topic of a number of recent research reports. Barclays boosted their price target on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. StockNews.com downgraded shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 2nd. KeyCorp raised their price target on shares of Cirrus Logic from $120.00 to $155.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen upped their price objective on Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Finally, Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $112.86.

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.