RBF Capital LLC Sells 5,000 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

RBF Capital LLC cut its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 20.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 20,000 shares of the semiconductor company’s stock after selling 5,000 shares during the period. RBF Capital LLC’s holdings in Cirrus Logic were worth $1,992,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH boosted its holdings in Cirrus Logic by 137.2% during the 4th quarter. Allianz Asset Management GmbH now owns 1,044,880 shares of the semiconductor company’s stock valued at $104,049,000 after acquiring an additional 604,431 shares during the period. Norges Bank bought a new position in shares of Cirrus Logic in the fourth quarter worth approximately $58,723,000. Pacer Advisors Inc. increased its stake in shares of Cirrus Logic by 44.0% in the fourth quarter. Pacer Advisors Inc. now owns 1,267,792 shares of the semiconductor company’s stock worth $126,247,000 after buying an additional 387,346 shares during the period. Jupiter Asset Management Ltd. raised its holdings in Cirrus Logic by 7,706.9% during the 4th quarter. Jupiter Asset Management Ltd. now owns 249,977 shares of the semiconductor company’s stock valued at $24,893,000 after buying an additional 246,775 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Cirrus Logic by 443.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 218,709 shares of the semiconductor company’s stock worth $21,742,000 after acquiring an additional 178,469 shares during the last quarter. 87.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CRUS shares. Benchmark reaffirmed a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Stifel Nicolaus dropped their price objective on Cirrus Logic from $140.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 17th. Finally, Barclays reduced their target price on Cirrus Logic from $115.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.86.

Insider Transactions at Cirrus Logic

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Performance

CRUS stock opened at $86.74 on Wednesday. Cirrus Logic, Inc. has a fifty-two week low of $75.83 and a fifty-two week high of $147.46. The company has a market capitalization of $4.61 billion, a price-to-earnings ratio of 15.74 and a beta of 0.95. The business’s 50 day moving average price is $97.89 and its two-hundred day moving average price is $103.62.

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

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.