US Bancorp DE Sells 452 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

US Bancorp DE lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 25.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,348 shares of the semiconductor company’s stock after selling 452 shares during the period. US Bancorp DE’s holdings in Cirrus Logic were worth $134,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in Cirrus Logic by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock worth $89,527,000 after purchasing an additional 129,457 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cirrus Logic by 4.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock worth $141,414,000 after purchasing an additional 50,582 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock worth $36,811,000 after purchasing an additional 69,006 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Cirrus Logic during the 3rd quarter worth about $2,543,000. Finally, Hancock Whitney Corp bought a new position in Cirrus Logic during the 3rd quarter worth about $898,000. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of NASDAQ:CRUS opened at $99.82 on Monday. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week high of $147.46. The company has a market capitalization of $5.30 billion, a P/E ratio of 18.12 and a beta of 0.89. The company has a 50-day simple moving average of $103.70 and a 200 day simple moving average of $110.78.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRUS. Barclays raised their price objective on Cirrus Logic from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Susquehanna raised their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. Finally, Benchmark upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, February 5th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $132.86.

Insider Activity at Cirrus Logic

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total transaction of $205,100.00. Following the completion of the sale, the executive vice president now directly owns 8,330 shares in the company, valued at $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by company 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.