Amalgamated Bank Sells 8,246 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Amalgamated Bank lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 24.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,525 shares of the semiconductor company’s stock after selling 8,246 shares during the quarter. Amalgamated Bank’s holdings in Cirrus Logic were worth $3,170,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Cirrus Logic by 98.4% during the third quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 120 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Cirrus Logic in the third quarter worth $31,000. Versant Capital Management Inc lifted its stake in shares of Cirrus Logic by 1,911.1% in the second quarter. Versant Capital Management Inc now owns 362 shares of the semiconductor company’s stock worth $46,000 after buying an additional 344 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cirrus Logic by 79.5% during the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company’s stock worth $61,000 after buying an additional 210 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in Cirrus Logic in the 2nd quarter valued at $77,000. Institutional investors and hedge funds own 87.96% of the company’s stock.

Cirrus Logic Stock Up 0.2 %

Cirrus Logic stock opened at $103.71 on Friday. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 17.58 and a beta of 0.96. Cirrus Logic, Inc. has a 12 month low of $69.23 and a 12 month high of $147.46. The business has a 50 day moving average price of $122.47 and a two-hundred day moving average price of $122.38.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Monday, November 4th. The semiconductor company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.23. Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. The firm had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the previous year, the company earned $1.43 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. On average, analysts expect that Cirrus Logic, Inc. will post 5.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRUS shares. Barclays cut their target price on shares of Cirrus Logic from $120.00 to $105.00 and set an “equal weight” rating for the company in a research report on Tuesday, November 5th. Stifel Nicolaus cut their price objective on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. KeyCorp raised their target price on Cirrus Logic from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Susquehanna dropped their price target on Cirrus Logic from $160.00 to $135.00 and set a “positive” rating on the stock in a research report on Tuesday, November 5th. Finally, StockNews.com cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.00.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, VP Andrew Brannan sold 4,350 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $136.04, for a total transaction of $591,774.00. Following the completion of the transaction, the vice president now owns 4,004 shares in the company, valued at $544,704.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by insiders.

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.