Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC lessened its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,316 shares of the semiconductor company’s stock after selling 552 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Cirrus Logic were worth $330,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Tidal Investments LLC lifted its position in Cirrus Logic by 118.7% during the third quarter. Tidal Investments LLC now owns 14,767 shares of the semiconductor company’s stock worth $1,834,000 after buying an additional 8,016 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Cirrus Logic by 60.1% during the 3rd quarter. Franklin Resources Inc. now owns 167,258 shares of the semiconductor company’s stock worth $20,625,000 after acquiring an additional 62,757 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after acquiring an additional 69,006 shares during the last quarter. Burney Co. grew its holdings in shares of 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 purchasing an additional 142,430 shares during the period. Finally, Ritholtz Wealth Management increased its position in Cirrus Logic by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after purchasing an additional 153 shares during the last quarter. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CRUS. Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Barclays lowered their price objective on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Finally, Benchmark restated a “buy” rating and issued a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cirrus Logic currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

Cirrus Logic Trading Up 0.3 %

CRUS stock opened at $98.49 on Tuesday. The business’s fifty day moving average price is $95.16 and its 200 day moving average price is $101.80. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $147.46. The company has a market capitalization of $5.23 billion, a PE ratio of 17.87 and a beta of 0.92.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results 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%. 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.