Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Mirae Asset Global Investments Co. Ltd. reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,161 shares of the semiconductor company’s stock after selling 2,852 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Cirrus Logic were worth $7,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRUS. Stonegate Investment Group LLC raised its position in Cirrus Logic by 5.3% during the third quarter. Stonegate Investment Group LLC now owns 1,776 shares of the semiconductor company’s stock valued at $221,000 after purchasing an additional 90 shares in the last quarter. Atria Investments Inc increased its position in shares of Cirrus Logic by 2.9% during the 3rd quarter. Atria Investments Inc now owns 3,596 shares of the semiconductor company’s stock valued at $447,000 after purchasing an additional 101 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Cirrus Logic by 98.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 242 shares of the semiconductor company’s stock valued at $30,000 after buying an additional 120 shares in the last quarter. Captrust Financial Advisors lifted its position in Cirrus Logic by 5.3% in the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after buying an additional 142 shares during the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Cirrus Logic by 4.1% in the fourth quarter. Ritholtz Wealth Management now owns 3,925 shares of the semiconductor company’s stock worth $391,000 after buying an additional 153 shares in the last quarter. Institutional investors own 87.96% of the company’s stock.

Cirrus Logic Stock Performance

Shares of CRUS stock opened at $106.77 on Friday. Cirrus Logic, Inc. has a fifty-two week low of $81.30 and a fifty-two week high of $147.46. The firm has a market cap of $5.67 billion, a P/E ratio of 18.10 and a beta of 0.91. The business’s 50 day moving average price is $102.54 and its 200-day moving average price is $115.86.

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

Analyst Upgrades and Downgrades

CRUS has been the topic of several research reports. Benchmark raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Wednesday. Loop Capital started coverage on shares of Cirrus Logic in a research report on Tuesday, November 12th. They issued a “buy” rating and a $130.00 target price on the stock. Stifel Nicolaus reduced their price objective 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. Barclays lifted their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Susquehanna increased their target price on Cirrus Logic from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, November 18th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $132.86.

Insider Buying and Selling

In other Cirrus Logic news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. This represents a 19.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.02% of the stock is 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.