Shelton Capital Management lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS – Get Rating) by 6.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,864 shares of the semiconductor company’s stock after selling 188 shares during the period. Shelton Capital Management’s holdings in Cirrus Logic were worth $213,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its position in shares of Cirrus Logic by 12.3% in the first quarter. US Bancorp DE now owns 1,711 shares of the semiconductor company’s stock valued at $145,000 after acquiring an additional 188 shares during the period. MetLife Investment Management LLC boosted its holdings in Cirrus Logic by 33.8% in the 1st quarter. MetLife Investment Management LLC now owns 37,038 shares of the semiconductor company’s stock valued at $3,140,000 after purchasing an additional 9,349 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Cirrus Logic by 10.8% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,994 shares of the semiconductor company’s stock valued at $1,780,000 after purchasing an additional 2,051 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Cirrus Logic by 8.9% during the first quarter. Great West Life Assurance Co. Can now owns 31,668 shares of the semiconductor company’s stock worth $2,759,000 after purchasing an additional 2,600 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in shares of Cirrus Logic by 1.6% during the first quarter. Yousif Capital Management LLC now owns 30,028 shares of the semiconductor company’s stock worth $2,546,000 after purchasing an additional 468 shares during the period. 91.78% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts have weighed in on CRUS shares. Barclays dropped their price objective on Cirrus Logic from $105.00 to $90.00 in a report on Friday, May 5th. StockNews.com began coverage on shares of Cirrus Logic in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Susquehanna dropped their target price on shares of Cirrus Logic from $105.00 to $95.00 in a research report on Friday, May 5th. TD Cowen cut their price target on shares of Cirrus Logic from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, May 5th. Finally, KeyCorp decreased their price objective on shares of Cirrus Logic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, April 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.00.
Cirrus Logic Stock Down 0.4 %
Cirrus Logic (NASDAQ:CRUS – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The semiconductor company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.06. Cirrus Logic had a net margin of 9.31% and a return on equity of 18.07%. The business had revenue of $372.82 million during the quarter, compared to analyst estimates of $369.32 million. As a group, equities research analysts expect that Cirrus Logic, Inc. will post 3.92 EPS for the current fiscal year.
Insider Activity
In related news, SVP Scott Thomas sold 10,261 shares of the business’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $109.65, for a total value of $1,125,118.65. Following the sale, the senior vice president now owns 20,554 shares of the company’s stock, valued at $2,253,746.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.89% of the company’s stock.
Cirrus Logic Company Profile
Cirrus Logic, Inc engages in the development of high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.
Read More
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