Global X Japan Co. Ltd. Sells 806 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Global X Japan Co. Ltd. trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,309 shares of the semiconductor company’s stock after selling 806 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Cirrus Logic were worth $429,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its stake in shares of Cirrus Logic by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 720,771 shares of the semiconductor company’s stock valued at $89,527,000 after buying an additional 129,457 shares during the period. Geode Capital Management LLC raised its holdings in Cirrus Logic by 4.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,138,279 shares of the semiconductor company’s stock valued at $141,414,000 after acquiring an additional 50,582 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Cirrus Logic by 30.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 296,357 shares of the semiconductor company’s stock valued at $36,811,000 after acquiring an additional 69,006 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Cirrus Logic by 52.1% during 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 in the last quarter. Finally, Sheaff Brock Investment Advisors LLC bought a new position in shares of Cirrus Logic in the third quarter worth $1,752,000. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRUS. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Loop Capital began coverage on shares of Cirrus Logic in a report on Tuesday, November 12th. They set a “buy” rating and a $130.00 price target for the company. Susquehanna lifted their price objective on shares of Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, November 18th. Barclays upped their target price on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on Cirrus Logic from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Price Performance

Shares of Cirrus Logic stock opened at $106.77 on Friday. The company’s 50 day moving average price is $102.54 and its two-hundred day moving average price is $115.86. The firm has a market capitalization of $5.67 billion, a P/E ratio of 18.10 and a beta of 0.91. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.21). Cirrus Logic had a net margin of 17.19% and a return on equity of 18.15%. On average, analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current year.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 8,330 shares of the company’s stock, valued at approximately $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.

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.