Corient Private Wealth LLC Sells 344 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Corient Private Wealth LLC reduced its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,370 shares of the semiconductor company’s stock after selling 344 shares during the quarter. Corient Private Wealth LLC’s holdings in Cirrus Logic were worth $236,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allianz Asset Management GmbH raised its stake in Cirrus Logic by 137.2% during the fourth quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock worth $104,049,000 after acquiring an additional 604,431 shares in the last quarter. Pacer Advisors Inc. increased its position in Cirrus Logic by 44.0% during 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 in the last quarter. Jupiter Asset Management Ltd. lifted its stake in Cirrus Logic by 7,706.9% in the 4th quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock valued at $24,893,000 after purchasing an additional 246,775 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 valued at $21,742,000 after purchasing an additional 178,469 shares during the last quarter. Finally, Burney Co. boosted its position in Cirrus Logic by 1,205.3% in the fourth quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after buying an additional 142,430 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the sale, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Up 0.1 %

Shares of NASDAQ:CRUS opened at $99.65 on Tuesday. The firm has a market cap of $5.30 billion, a P/E ratio of 18.09 and a beta of 0.89. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46. The business has a fifty day simple moving average of $103.45 and a 200 day simple moving average of $107.92.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CRUS shares. Benchmark reiterated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Barclays lifted their price target on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.86.

Cirrus Logic 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.