Farther Finance Advisors LLC Sells 135 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Farther Finance Advisors LLC decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,905 shares of the semiconductor company’s stock after selling 135 shares during the quarter. Farther Finance Advisors LLC’s holdings in Cirrus Logic were worth $190,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in shares of 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. boosted its holdings in shares of 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 boosted its holdings in shares of 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 boosted its holdings in shares of 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. boosted its holdings in shares of 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 own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CRUS shares. Benchmark reiterated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a report on Wednesday. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Barclays boosted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating 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’s stock. Based on data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic Stock Up 0.2 %

CRUS opened at $101.05 on Thursday. The business has a fifty day moving average of $103.48 and a 200 day moving average of $110.09. The stock has a market cap of $5.37 billion, a P/E ratio of 18.34 and a beta of 0.89. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. The trade was a 19.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

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.