Voya Investment Management LLC Decreases Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Voya Investment Management LLC decreased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,363 shares of the semiconductor company’s stock after selling 1,695 shares during the quarter. Voya Investment Management LLC’s holdings in Cirrus Logic were worth $2,824,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CRUS. JPMorgan Chase & Co. increased its stake in shares of Cirrus Logic by 30.4% during the third quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after buying an additional 69,006 shares during the period. Burney Co. increased its position in shares of Cirrus Logic by 1,205.3% in the 4th 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 last quarter. KBC Group NV raised its holdings in shares of Cirrus Logic by 52.5% in the 4th quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock valued at $189,000 after purchasing an additional 653 shares in the last quarter. Franklin Resources Inc. lifted its position 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 purchasing an additional 62,757 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Cirrus Logic by 34.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 132,578 shares of the semiconductor company’s stock worth $13,202,000 after purchasing an additional 33,682 shares in the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRUS. Benchmark restated a “buy” rating and issued a $125.00 price target on shares of Cirrus Logic in a research note on Wednesday, March 19th. Stifel Nicolaus decreased their target price on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Finally, Barclays dropped their price target 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, April 22nd. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and an average target price of $123.86.

Cirrus Logic Trading Up 2.8 %

Shares of NASDAQ CRUS opened at $98.20 on Friday. The stock has a market cap of $5.22 billion, a P/E ratio of 17.82 and a beta of 0.95. The stock has a 50 day moving average of $95.38 and a two-hundred day moving average of $102.27. Cirrus Logic, Inc. has a twelve month low of $75.83 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share 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%. As a group, research analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares of the company’s stock, valued at $833,000. This trade 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 available through this link. Corporate insiders own 1.02% of the company’s stock.

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.