Cirrus Logic, Inc. (NASDAQ:CRUS) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,178 shares of the semiconductor company’s stock after selling 3,484 shares during the period. Magnetar Financial LLC’s holdings in Cirrus Logic were worth $1,312,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Cirrus Logic by 93.7% during the fourth quarter. Venturi Wealth Management LLC now owns 368 shares of the semiconductor company’s stock worth $31,000 after acquiring an additional 178 shares during the period. Atlas Capital Advisors LLC boosted its position 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 purchasing an additional 204 shares during the period. Quadrant Capital Group LLC boosted its position 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 purchasing an additional 214 shares during the period. Disciplined Equity Management Inc. acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $83,000. Finally, SG Americas Securities LLC acquired a new position in shares of Cirrus Logic in the 4th quarter valued at $173,000. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Trading Up 1.9 %

NASDAQ CRUS traded up $2.43 during trading on Friday, reaching $129.24. 405,489 shares of the company’s stock were exchanged, compared to its average volume of 449,097. The firm has a market capitalization of $6.91 billion, a PE ratio of 26.22 and a beta of 0.94. Cirrus Logic, Inc. has a fifty-two week low of $65.02 and a fifty-two week high of $142.83. The company’s fifty day simple moving average is $125.48 and its 200-day simple moving average is $101.93.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share (EPS) 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 analyst estimates of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. Equities analysts forecast that Cirrus Logic, Inc. will post 4.75 EPS for the current fiscal year.

Insider Activity

In other news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total transaction of $115,850.00. Following the completion of the sale, the director now directly owns 19,332 shares in the company, valued at approximately $2,239,612.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Carl Jackson Alberty sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $113.35, for a total value of $226,700.00. Following the completion of the transaction, the vice president now directly owns 38,507 shares in the company, valued at $4,364,768.45. The disclosure for this sale can be found here. Insiders sold a total of 18,706 shares of company stock worth $2,187,098 in the last three months. 1.02% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen increased their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Stifel Nicolaus increased their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Friday. Susquehanna increased their price target on Cirrus Logic from $120.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, July 17th. Finally, Barclays raised their price objective on Cirrus Logic from $95.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research 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 stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.57.

Cirrus Logic Company 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.