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

Allspring Global Investments Holdings LLC trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 owned about 0.08% of Cirrus Logic worth $4,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CRUS. Venturi Wealth Management LLC grew its stake in shares of Cirrus Logic by 93.7% in 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 increased its position in Cirrus Logic by 103.0% in the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Quadrant Capital Group LLC increased its position in Cirrus Logic by 72.3% during the fourth quarter. Quadrant Capital Group LLC now owns 510 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 214 shares during the last quarter. Disciplined Equity Management Inc. bought a new position in Cirrus Logic during the fourth quarter valued at $83,000. Finally, SG Americas Securities LLC bought a new position in Cirrus Logic during the fourth quarter valued at $173,000. 87.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, 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 value of $1,413,148.32. Following the completion of the transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, 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 value of $1,413,148.32. Following the completion of the transaction, the senior vice president now owns 23,975 shares of the company’s stock, valued at approximately $2,894,262. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $431,400.00. Following the transaction, the senior vice president now directly owns 5,838 shares of the company’s stock, valued at approximately $629,628.30. The disclosure for this sale can be found here. Insiders have sold 18,706 shares of company stock worth $2,187,098 in the last three months. Corporate insiders own 1.02% of the company’s stock.

Cirrus Logic Stock Up 1.3 %

Shares of Cirrus Logic stock traded up $1.69 on Tuesday, hitting $128.98. The company’s stock had a trading volume of 39,662 shares, compared to its average volume of 449,461. Cirrus Logic, Inc. has a 52-week low of $65.02 and a 52-week high of $130.04. The firm has a fifty day moving average price of $111.13 and a 200-day moving average price of $95.15. The company has a market capitalization of $6.89 billion, a P/E ratio of 25.82 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.36 by $0.48. Cirrus Logic had a net margin of 15.35% and a return on equity of 16.49%. The business had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. As a group, analysts expect that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Wall Street Analyst Weigh In

CRUS has been the subject of a number of recent analyst reports. KeyCorp boosted their target price on shares of Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Benchmark lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Stifel Nicolaus upped their price objective on shares of Cirrus Logic from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. TD Cowen upped their price objective on shares of Cirrus Logic from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Finally, Susquehanna upped their price objective on shares of Cirrus Logic from $100.00 to $120.00 and gave the stock a “positive” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cirrus Logic presently has an average rating of “Moderate Buy” and a consensus target price of $107.86.

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.