Man Group plc reduced its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 26.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 412,995 shares of the semiconductor company’s stock after selling 148,440 shares during the quarter. Man Group plc’s holdings in Cirrus Logic were worth $34,035,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CRUS. Amundi Pioneer Asset Management Inc. lifted its holdings in Cirrus Logic by 175.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 7,854 shares of the semiconductor company’s stock worth $330,000 after purchasing an additional 5,000 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Cirrus Logic by 5.8% during the third quarter. Parametric Portfolio Associates LLC now owns 170,780 shares of the semiconductor company’s stock worth $9,150,000 after buying an additional 9,428 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Cirrus Logic during the third quarter worth approximately $1,724,000. Millennium Management LLC lifted its holdings in shares of Cirrus Logic by 328.1% during the third quarter. Millennium Management LLC now owns 374,918 shares of the semiconductor company’s stock worth $20,088,000 after buying an additional 287,332 shares during the last quarter. Finally, Carroll Financial Associates Inc. acquired a new position in shares of Cirrus Logic during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 91.60% of the company’s stock.
In other Cirrus Logic news, VP Bradley J. Fluke sold 11,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $78.80, for a total value of $866,800.00. Following the sale, the vice president now directly owns 5,120 shares in the company, valued at $403,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason P. Rhode sold 85,091 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $79.24, for a total value of $6,742,610.84. Following the completion of the sale, the chief executive officer now owns 302,999 shares in the company, valued at $24,009,640.76. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
A number of research analysts have recently commented on CRUS shares. Craig Hallum upped their price target on Cirrus Logic from $52.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Susquehanna Bancshares upped their price target on Cirrus Logic from to in a report on Thursday, January 30th. Zacks Investment Research lowered Cirrus Logic from a “strong-buy” rating to a “hold” rating and set a $87.00 price target for the company. in a report on Thursday, January 2nd. Bank of America upped their price target on Cirrus Logic from $64.00 to $76.00 and gave the stock an “underperform” rating in a report on Thursday, January 30th. Finally, Barclays reiterated a “hold” rating and set a $65.00 price target on shares of Cirrus Logic in a report on Sunday, January 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cirrus Logic presently has a consensus rating of “Buy” and a consensus target price of $78.70.
CRUS opened at $60.08 on Thursday. The stock has a market cap of $3.56 billion, a PE ratio of 23.29, a P/E/G ratio of 1.34 and a beta of 1.10. The company has a current ratio of 4.01, a quick ratio of 3.23 and a debt-to-equity ratio of 0.11. Cirrus Logic, Inc. has a 1 year low of $37.24 and a 1 year high of $91.63. The stock’s 50 day simple moving average is $69.61 and its 200-day simple moving average is $69.52.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, January 29th. The semiconductor company reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.27. The business had revenue of $374.67 million for the quarter, compared to analysts’ expectations of $345.33 million. Cirrus Logic had a return on equity of 15.06% and a net margin of 12.52%. Cirrus Logic’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 earnings per share. Equities analysts forecast that Cirrus Logic, Inc. will post 3.05 earnings per share for the current fiscal year.
About Cirrus Logic
Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.
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