Cirrus Logic (NASDAQ:CRUS) Hits New 1-Year Low – Should You Sell?

Cirrus Logic, Inc. (NASDAQ:CRUS) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $78.50 and last traded at $79.48, with a volume of 35989 shares. The stock had previously closed at $83.23.

Analyst Upgrades and Downgrades

CRUS has been the subject of a number of research analyst reports. Benchmark reiterated a “buy” rating and set a $125.00 price target on shares of Cirrus Logic in a research report on Wednesday, March 19th. Barclays boosted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cirrus Logic has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Price Performance

The firm has a 50-day simple moving average of $102.80 and a 200-day simple moving average of $106.97. The firm has a market capitalization of $4.32 billion, a PE ratio of 14.84 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Equities analysts expect that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at $833,000. The trade was 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 the SEC website. 1.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CRUS. Geode Capital Management LLC boosted its position in shares of Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after acquiring an additional 50,582 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cirrus Logic by 30.4% in the 3rd 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 in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in shares of Cirrus Logic in the 3rd quarter worth about $2,543,000. Burney Co. lifted its holdings 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 acquiring an additional 142,430 shares during the last quarter. Finally, KBC Group NV grew its position in Cirrus Logic by 52.5% in the fourth quarter. KBC Group NV now owns 1,896 shares of the semiconductor company’s stock worth $189,000 after acquiring an additional 653 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

About Cirrus Logic

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.