Algert Global LLC Sells 58,143 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Algert Global LLC cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 38.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 94,315 shares of the semiconductor company’s stock after selling 58,143 shares during the period. Algert Global LLC owned 0.18% of Cirrus Logic worth $11,715,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in Cirrus Logic by 9.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 8,444 shares of the semiconductor company’s stock valued at $776,000 after purchasing an additional 746 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cirrus Logic by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,363,188 shares of the semiconductor company’s stock valued at $588,977,000 after buying an additional 128,393 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Cirrus Logic by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 45,404 shares of the semiconductor company’s stock valued at $4,201,000 after buying an additional 1,645 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Cirrus Logic in the 1st quarter worth approximately $176,000. Finally, Quadrature Capital Ltd bought a new position in shares of Cirrus Logic during the 1st quarter worth approximately $278,000. 87.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CRUS has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Loop Capital began coverage on Cirrus Logic in a research note on Tuesday, November 12th. They set a “buy” rating and a $130.00 target price on the stock. Susquehanna upped their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, November 18th. StockNews.com downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Barclays cut their price objective on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating on the stock in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cirrus Logic currently has an average rating of “Moderate Buy” and a consensus price target of $132.50.

Cirrus Logic Stock Up 2.2 %

Shares of NASDAQ:CRUS opened at $104.82 on Friday. Cirrus Logic, Inc. has a 52-week low of $74.83 and a 52-week high of $147.46. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of 17.77 and a beta of 0.96. The business has a 50-day moving average price of $116.23 and a 200-day moving average price of $123.04.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. The company had revenue of $541.90 million during the quarter, compared to analyst estimates of $520.53 million. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. Cirrus Logic’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.43 EPS. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 5.21 EPS for the current fiscal year.

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.