Cirrus Logic, Inc. $CRUS Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 22.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 26,577 shares of the semiconductor company’s stock after selling 7,700 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Cirrus Logic were worth $3,330,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its holdings in Cirrus Logic by 92.3% during the first quarter. Royal Bank of Canada now owns 72,134 shares of the semiconductor company’s stock worth $7,189,000 after buying an additional 34,629 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Cirrus Logic by 24.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,320 shares of the semiconductor company’s stock valued at $132,000 after acquiring an additional 263 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Cirrus Logic by 4.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 214,457 shares of the semiconductor company’s stock worth $21,372,000 after acquiring an additional 9,658 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Cirrus Logic in the 1st quarter worth $361,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Cirrus Logic by 95.1% during the first quarter. Geneos Wealth Management Inc. now owns 476 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 232 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Down 0.4%

CRUS stock opened at $130.18 on Friday. The company has a 50 day moving average of $122.59 and a two-hundred day moving average of $118.88. The company has a market cap of $6.64 billion, a price-to-earnings ratio of 18.49 and a beta of 1.09. Cirrus Logic, Inc. has a 12-month low of $75.83 and a 12-month high of $136.92.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, November 4th. The semiconductor company reported $2.83 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.51. Cirrus Logic had a net margin of 19.48% and a return on equity of 19.59%. The business had revenue of $560.96 million for the quarter, compared to the consensus estimate of $540.45 million. During the same period in the prior year, the business posted $2.25 earnings per share. Cirrus Logic’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, research analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stifel Nicolaus lifted their price target on Cirrus Logic from $140.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, November 5th. Williams Trading set a $150.00 target price on shares of Cirrus Logic in a research report on Wednesday, November 5th. Susquehanna upped their price target on shares of Cirrus Logic from $140.00 to $155.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Barclays set a $100.00 price objective on shares of Cirrus Logic in a research report on Thursday, January 15th. Finally, KeyCorp raised their target price on Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $142.50.

Insider Buying and Selling at Cirrus Logic

In other news, EVP Andrew Brannan sold 8,913 shares of Cirrus Logic stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $119.06, for a total transaction of $1,061,181.78. Following the completion of the sale, the executive vice president directly owned 5,950 shares in the company, valued at $708,407. The trade was a 59.97% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.16% of the stock is owned by company insiders.

Cirrus Logic Company Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.