Raymond James Financial Services Advisors Inc. Sells 1,929 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Raymond James Financial Services Advisors Inc. cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 35.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,464 shares of the semiconductor company’s stock after selling 1,929 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Cirrus Logic were worth $288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new stake in Cirrus Logic during the 4th quarter worth about $173,000. Diversified Trust Co lifted its position in Cirrus Logic by 41.2% during the 4th quarter. Diversified Trust Co now owns 8,596 shares of the semiconductor company’s stock worth $715,000 after buying an additional 2,507 shares in the last quarter. Vanguard Group Inc. lifted its position in Cirrus Logic by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after buying an additional 105,577 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Cirrus Logic by 30.1% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 39,327 shares of the semiconductor company’s stock worth $2,908,000 after buying an additional 9,105 shares in the last quarter. Finally, Tudor Investment Corp Et Al bought a new stake in Cirrus Logic during the 3rd quarter worth about $7,744,000. 87.96% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cirrus Logic news, SVP Justin E. Dougherty sold 3,280 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at approximately $548,400. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Justin E. Dougherty sold 3,280 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $91.40, for a total transaction of $299,792.00. Following the completion of the sale, the senior vice president now owns 6,000 shares of the company’s stock, valued at approximately $548,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Venkatesh Nathamuni sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $95.00, for a total transaction of $95,000.00. Following the sale, the chief financial officer now directly owns 1,587 shares of the company’s stock, valued at approximately $150,765. The disclosure for this sale can be found here. Insiders have sold a total of 7,530 shares of company stock worth $700,292 in the last quarter. Corporate insiders own 0.89% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS opened at $84.47 on Tuesday. Cirrus Logic, Inc. has a 52 week low of $65.02 and a 52 week high of $95.87. The firm has a market cap of $4.55 billion, a P/E ratio of 26.82 and a beta of 1.00. The firm’s 50-day simple moving average is $90.31 and its 200 day simple moving average is $81.85.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $2.53 EPS for the quarter, beating analysts’ consensus estimates of $1.70 by $0.83. Cirrus Logic had a net margin of 9.84% and a return on equity of 16.13%. The business had revenue of $618.98 million for the quarter, compared to analyst estimates of $539.55 million. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 4.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Susquehanna boosted their price objective on shares of Cirrus Logic from $85.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, February 7th. Barclays boosted their price objective on shares of Cirrus Logic from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 16th. TD Cowen boosted their price objective on shares of Cirrus Logic from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. StockNews.com lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Stifel Nicolaus boosted their price objective on shares of Cirrus Logic from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $96.43.

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 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 digital signal processing; boosted amplifiers; 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.