NFJ Investment Group LLC Sells 276 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

NFJ Investment Group LLC trimmed its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,585 shares of the semiconductor company’s stock after selling 276 shares during the quarter. NFJ Investment Group LLC’s holdings in Cirrus Logic were worth $2,249,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRUS. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Cirrus Logic during the fourth quarter valued at about $28,000. Westside Investment Management Inc. bought a new stake in Cirrus Logic during the 3rd quarter worth approximately $35,000. Headlands Technologies LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $39,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic in the 4th quarter worth approximately $46,000. Finally, R Squared Ltd purchased a new position in shares of Cirrus Logic during the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Analyst Ratings Changes

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

Cirrus Logic Price Performance

NASDAQ:CRUS opened at $85.52 on Thursday. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $147.46. The business has a 50 day moving average of $99.39 and a 200 day moving average of $104.70. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 15.52 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (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%. As a group, sell-side analysts anticipate that Cirrus Logic, Inc. will post 5.63 EPS for the current year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the transaction, the executive vice president now directly 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.02% of the company’s stock.

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.