Xact Kapitalforvaltning AB Sells 4,000 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Xact Kapitalforvaltning AB lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 25.0% during the 1st quarter, HoldingsChannel reports. The firm owned 11,995 shares of the semiconductor company’s stock after selling 4,000 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in Cirrus Logic were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Investors Research Corp bought a new position in shares of Cirrus Logic during the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC raised its position in Cirrus Logic by 596.7% in the 1st quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 549 shares during the last quarter. Pearl River Capital LLC bought a new position in Cirrus Logic in the 4th quarter valued at $32,000. Advisor Group Inc. raised its position in Cirrus Logic by 71.8% in the 4th quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock valued at $71,000 after purchasing an additional 905 shares during the last quarter. Finally, Strs Ohio raised its position in Cirrus Logic by 316.7% in the 4th quarter. Strs Ohio now owns 2,500 shares of the semiconductor company’s stock valued at $82,000 after purchasing an additional 1,900 shares during the last quarter. 84.73% of the stock is currently owned by institutional investors.

CRUS traded down $1.49 during trading on Friday, hitting $40.17. The company’s stock had a trading volume of 9,005 shares, compared to its average volume of 639,838. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $50.12. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.84 and a beta of 0.85.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, May 1st. The semiconductor company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.04. Cirrus Logic had a return on equity of 10.65% and a net margin of 7.59%. The business had revenue of $240.44 million during the quarter, compared to analysts’ expectations of $219.67 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that Cirrus Logic, Inc. will post 1.5 EPS for the current fiscal year.

In related news, Director David J. Tupman sold 1,541 shares of Cirrus Logic stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $49.43, for a total transaction of $76,171.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott Thomas sold 6,153 shares of Cirrus Logic stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $45.00, for a total value of $276,885.00. The disclosure for this sale can be found here. 2.79% of the stock is owned by insiders.

CRUS has been the subject of several research analyst reports. BidaskClub downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. ValuEngine upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. MKM Partners lifted their price objective on Cirrus Logic to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded Cirrus Logic from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Finally, Cowen reiterated a “market perform” rating and issued a $48.00 price objective (up previously from $38.00) on shares of Cirrus Logic in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cirrus Logic presently has an average rating of “Hold” and an average target price of $45.00.

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Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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