Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,291 shares of the semiconductor company’s stock after selling 1,316 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Cirrus Logic were worth $2,148,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Cirrus Logic by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after purchasing an additional 128,393 shares during the period. LSV Asset Management boosted its stake in Cirrus Logic by 34.6% during the second quarter. LSV Asset Management now owns 1,890,493 shares of the semiconductor company’s stock valued at $241,340,000 after buying an additional 486,086 shares in the last quarter. Earnest Partners LLC grew its holdings in Cirrus Logic by 3.0% during the second quarter. Earnest Partners LLC now owns 1,358,140 shares of the semiconductor company’s stock worth $173,380,000 after acquiring an additional 39,759 shares during the period. Sei Investments Co. raised its position in Cirrus Logic by 8.6% in the second quarter. Sei Investments Co. now owns 756,585 shares of the semiconductor company’s stock worth $96,587,000 after acquiring an additional 59,690 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Cirrus Logic by 8,183.4% in the 2nd quarter. Pacer Advisors Inc. now owns 665,320 shares of the semiconductor company’s stock valued at $84,935,000 after acquiring an additional 657,288 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRUS shares. Barclays cut shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $140.00 to $120.00 in a research note on Thursday, October 10th. Stifel Nicolaus upped their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. KeyCorp raised their price objective on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, October 9th. Finally, Susquehanna decreased their price target on Cirrus Logic from $175.00 to $160.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $137.50.

Cirrus Logic Stock Up 1.3 %

Cirrus Logic stock opened at $122.22 on Friday. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $147.46. The company’s fifty day simple moving average is $128.88 and its 200-day simple moving average is $120.50. The stock has a market cap of $6.53 billion, a P/E ratio of 24.79 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, August 6th. The semiconductor company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.50. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The firm had revenue of $374.03 million for the quarter, compared to the consensus estimate of $318.41 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The business’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities research analysts expect that Cirrus Logic, Inc. will post 5.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Justin E. Dougherty sold 10,203 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the completion of the sale, the senior vice president now owns 4,838 shares in the company, valued at approximately $637,212.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total value of $591,774.00. Following the transaction, the vice president now directly owns 4,004 shares in the company, valued at approximately $544,704.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Company Profile

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.