Cirrus Logic, Inc. (CRUS) Position Trimmed by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 39.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,430 shares of the semiconductor company’s stock after selling 2,907 shares during the period. Itau Unibanco Holding S.A.’s holdings in Cirrus Logic were worth $230,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. boosted its holdings in Cirrus Logic by 10.6% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,304,324 shares of the semiconductor company’s stock valued at $67,642,000 after acquiring an additional 125,285 shares in the last quarter. BlackRock Inc. boosted its holdings in Cirrus Logic by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,070,636 shares of the semiconductor company’s stock valued at $366,682,000 after acquiring an additional 197,960 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Cirrus Logic by 7,628.2% in the fourth quarter. Schroder Investment Management Group now owns 497,003 shares of the semiconductor company’s stock valued at $25,775,000 after acquiring an additional 490,572 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Cirrus Logic by 7.8% in the fourth quarter. Bank of New York Mellon Corp now owns 1,764,220 shares of the semiconductor company’s stock valued at $91,491,000 after acquiring an additional 127,027 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in Cirrus Logic by 39.3% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,419 shares of the semiconductor company’s stock valued at $437,000 after acquiring an additional 2,377 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.

Cirrus Logic, Inc. (CRUS) opened at $42.90 on Thursday. The stock has a market capitalization of $2,777.35, a PE ratio of 10.90, a PEG ratio of 1.28 and a beta of -0.02. Cirrus Logic, Inc. has a 52-week low of $39.51 and a 52-week high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, February 5th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.78 by ($0.19). The company had revenue of $482.70 million during the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. Cirrus Logic’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 EPS. analysts predict that Cirrus Logic, Inc. will post 3.78 earnings per share for the current year.

Cirrus Logic declared that its board has initiated a stock repurchase program on Monday, February 5th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Several analysts recently weighed in on CRUS shares. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price target on shares of Cirrus Logic in a report on Friday, November 3rd. Northland Securities reissued a “buy” rating on shares of Cirrus Logic in a research report on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Cirrus Logic in a research report on Friday, November 3rd. Stifel Nicolaus lowered their price objective on Cirrus Logic from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, MKM Partners lowered their price objective on Cirrus Logic to $54.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Five analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $60.92.

In other news, VP Randolph K. Carlson sold 7,265 shares of Cirrus Logic stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $42.03, for a total value of $305,347.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christine King sold 562 shares of Cirrus Logic stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $49.75, for a total value of $27,959.50. Following the completion of the transaction, the director now directly owns 11,744 shares of the company’s stock, valued at approximately $584,264. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,405 shares of company stock valued at $363,200. 1.92% of the stock is owned by insiders.

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Cirrus Logic Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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