Franklin Resources Inc. Has $14.47 Million Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Franklin Resources Inc. trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 13.1% in the fourth quarter, Holdings Channel reports. The fund owned 145,301 shares of the semiconductor company’s stock after selling 21,957 shares during the quarter. Franklin Resources Inc.’s holdings in Cirrus Logic were worth $14,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Arizona State Retirement System raised its position in Cirrus Logic by 0.7% in the fourth quarter. Arizona State Retirement System now owns 15,492 shares of the semiconductor company’s stock valued at $1,543,000 after purchasing an additional 101 shares during the last quarter. Truvestments Capital LLC raised its holdings in Cirrus Logic by 3.5% in the 4th quarter. Truvestments Capital LLC now owns 3,981 shares of the semiconductor company’s stock valued at $396,000 after buying an additional 133 shares during the last quarter. Captrust Financial Advisors raised its holdings in Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock valued at $353,000 after buying an additional 142 shares during the last quarter. Ritholtz Wealth Management boosted its position in Cirrus Logic by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after buying an additional 153 shares during the period. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in Cirrus Logic by 40.0% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 700 shares of the semiconductor company’s stock worth $70,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 87.96% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

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

Cirrus Logic Trading Down 0.4 %

Shares of CRUS opened at $82.93 on Tuesday. The firm’s fifty day simple moving average is $102.47 and its two-hundred day simple moving average is $106.68. Cirrus Logic, Inc. has a 12 month low of $78.50 and a 12 month high of $147.46. The stock has a market capitalization of $4.41 billion, a P/E ratio of 15.05 and a beta of 0.95.

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

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.