Allspring Global Investments Holdings LLC Sells 8,169 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Allspring Global Investments Holdings LLC lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,560 shares of the semiconductor company’s stock after selling 8,169 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cirrus Logic were worth $4,217,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Cirrus Logic by 93.7% during the 4th quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares in the last quarter. Atlas Capital Advisors LLC boosted its holdings in shares of Cirrus Logic by 103.0% in the 1st quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Cirrus Logic by 72.3% in the 4th quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 214 shares in the last quarter. Disciplined Equity Management Inc. bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $83,000. Finally, SG Americas Securities LLC bought a new stake in shares of Cirrus Logic in the 4th quarter valued at about $173,000. Hedge funds and other institutional investors own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In related news, SVP Justin E. Dougherty sold 4,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the sale, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Justin E. Dougherty sold 4,000 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $107.85, for a total value of $431,400.00. Following the transaction, the senior vice president now owns 5,838 shares in the company, valued at approximately $629,628.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Scott Thomas sold 11,706 shares of the business’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the sale, the senior vice president now directly owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The disclosure for this sale can be found here. Insiders have sold a total of 18,706 shares of company stock valued at $2,187,098 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

Cirrus Logic Stock Performance

Shares of NASDAQ CRUS traded up $1.69 during mid-day trading on Tuesday, reaching $128.98. The company had a trading volume of 39,662 shares, compared to its average volume of 449,461. Cirrus Logic, Inc. has a twelve month low of $65.02 and a twelve month high of $130.04. The stock’s 50 day moving average is $111.13 and its 200-day moving average is $95.15. The stock has a market capitalization of $6.89 billion, a PE ratio of 25.82 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.48. The business had revenue of $371.83 million during the quarter, compared to analysts’ expectations 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 anticipate that Cirrus Logic, Inc. will post 4.75 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on CRUS shares. Susquehanna raised their price target on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research report on Wednesday, May 8th. Barclays increased their target price on shares of Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. TD Cowen raised their price objective on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Finally, StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $107.86.

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.