Denali Advisors LLC Sells 602 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Denali Advisors LLC lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 23.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,012 shares of the semiconductor company’s stock after selling 602 shares during the quarter. Denali Advisors LLC’s holdings in Cirrus Logic were worth $186,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRUS. Venturi Wealth Management LLC increased its holdings in shares of Cirrus Logic by 93.7% in the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock valued at $31,000 after purchasing an additional 178 shares during the last quarter. Atlas Capital Advisors LLC grew its stake in shares of Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Cirrus Logic by 72.3% in the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares in the last quarter. Disciplined Equity Management Inc. acquired a new position in shares of Cirrus Logic in the fourth quarter valued at about $83,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cirrus Logic in the fourth quarter valued at about $173,000. 87.96% of the stock is owned by institutional investors.

Cirrus Logic Stock Down 0.9 %

Shares of CRUS stock traded down $1.20 on Wednesday, reaching $128.57. The company had a trading volume of 294,954 shares, compared to its average volume of 450,721. The stock has a market capitalization of $6.87 billion, a PE ratio of 26.32 and a beta of 0.94. Cirrus Logic, Inc. has a one year low of $65.02 and a one year high of $130.29. The business’s 50-day moving average is $112.04 and its 200 day moving average is $95.47.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.48. The business had revenue of $371.83 million during the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 4.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on CRUS. TD Cowen upped their price target on shares of Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Benchmark downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Susquehanna upped their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the company a “positive” rating in a research note on Wednesday, May 8th. KeyCorp upped their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, StockNews.com cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.86.

Insider Transactions at Cirrus Logic

In other Cirrus Logic news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the transaction, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $107.85, for a total transaction of $431,400.00. Following the completion of the transaction, the senior vice president now owns 5,838 shares of the company’s stock, valued at $629,628.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander M. Davern sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the transaction, the director now directly owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The disclosure for this sale can be found here. Insiders sold a total of 18,706 shares of company stock valued at $2,187,098 in the last quarter. 1.02% of the stock is currently owned by company insiders.

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.