Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co lowered its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,303 shares of the semiconductor company’s stock after selling 3,286 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.09% of Cirrus Logic worth $4,606,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Cirrus Logic by 30.4% in the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after purchasing an additional 69,006 shares during the period. Burney Co. lifted its position in shares of Cirrus Logic by 1,205.3% during the 4th quarter. Burney Co. now owns 154,247 shares of the semiconductor company’s stock valued at $15,360,000 after acquiring an additional 142,430 shares during the period. KBC Group NV boosted its stake in shares of Cirrus Logic by 52.5% during the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 653 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Cirrus Logic by 60.1% in 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. Finally, Robeco Institutional Asset Management B.V. increased its stake in Cirrus Logic by 34.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company’s stock valued at $13,202,000 after purchasing an additional 33,682 shares in the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Stifel Nicolaus decreased their target price on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 17th. Barclays lowered their price objective on shares of Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, Benchmark restated a “buy” rating and set a $125.00 target price on shares of Cirrus Logic in a research report on Wednesday, March 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Cirrus Logic presently has an average rating of “Moderate Buy” and an average target price of $123.86.

Cirrus Logic Price Performance

Shares of NASDAQ CRUS opened at $92.40 on Friday. The company has a 50-day simple moving average of $97.15 and a 200-day simple moving average of $103.35. The company has a market cap of $4.91 billion, a PE ratio of 16.77 and a beta of 0.95. Cirrus Logic, Inc. has a 12 month low of $75.83 and a 12 month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released 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 return on equity of 16.60% and a net margin of 16.55%. On average, analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Cirrus Logic Company 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.