SG Americas Securities LLC Trims Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

SG Americas Securities LLC decreased its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 62.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,673 shares of the semiconductor company’s stock after selling 12,692 shares during the quarter. SG Americas Securities LLC’s holdings in Cirrus Logic were worth $953,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Atlas Capital Advisors LLC raised its holdings in Cirrus Logic by 103.0% during the first quarter. Atlas Capital Advisors LLC now owns 402 shares of the semiconductor company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. Versant Capital Management Inc grew its position in shares of Cirrus Logic by 1,911.1% during the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 344 shares in the last quarter. GAMMA Investing LLC raised its stake in Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock valued at $61,000 after purchasing an additional 210 shares during the period. 1620 Investment Advisors Inc. purchased a new position in Cirrus Logic in the 2nd quarter worth approximately $77,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Cirrus Logic by 52.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 961 shares of the semiconductor company’s stock worth $123,000 after purchasing an additional 329 shares during the period. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Trading Up 0.0 %

Shares of NASDAQ:CRUS opened at $119.71 on Friday. The company has a market cap of $6.39 billion, a price-to-earnings ratio of 22.13 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $147.46. The company has a 50-day moving average price of $130.43 and a 200 day moving average price of $118.33.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Tuesday, August 6th. The semiconductor company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.50. The business had revenue of $374.03 million during the quarter, compared to analyst estimates of $318.41 million. Cirrus Logic had a return on equity of 17.42% and a net margin of 16.31%. The company’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 5.26 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Susquehanna boosted their target price on shares of Cirrus Logic from $120.00 to $175.00 and gave the stock a “positive” rating in a report on Wednesday, July 17th. Barclays cut shares of Cirrus Logic from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $140.00 to $120.00 in a research note on Thursday. StockNews.com lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. KeyCorp boosted their target price on Cirrus Logic from $155.00 to $165.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus raised their price target on Cirrus Logic from $110.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $140.00.

Insider Buying and Selling at Cirrus Logic

In related news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at approximately $544,704.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cirrus Logic news, SVP Justin E. Dougherty sold 10,203 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $131.71, for a total transaction of $1,343,837.13. Following the transaction, the senior vice president now owns 4,838 shares of the company’s stock, valued at approximately $637,212.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Andrew Brannan sold 4,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the sale, the vice president now directly owns 4,004 shares of the company’s stock, valued at $544,704.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.02% of the company’s stock.

Cirrus Logic 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.