Denali Advisors LLC Has $186,000 Stock Position in Cirrus Logic, Inc. (NASDAQ:CRUS)

Denali Advisors LLC lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,012 shares of the semiconductor company’s stock after selling 602 shares during the quarter. Denali Advisors LLC’s holdings in Cirrus Logic were worth $186,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Cirrus Logic by 1.7% during the third quarter. Vanguard Group Inc. now owns 6,299,658 shares of the semiconductor company’s stock worth $465,923,000 after purchasing an additional 105,577 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Cirrus Logic by 1.5% during the fourth quarter. Mackenzie Financial Corp now owns 2,485,746 shares of the semiconductor company’s stock worth $206,789,000 after purchasing an additional 35,722 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Cirrus Logic by 2.9% during the fourth quarter. Wellington Management Group LLP now owns 1,368,475 shares of the semiconductor company’s stock worth $113,843,000 after purchasing an additional 38,659 shares during the last quarter. Earnest Partners LLC boosted its holdings in Cirrus Logic by 7.9% in the third quarter. Earnest Partners LLC now owns 1,099,893 shares of the semiconductor company’s stock valued at $81,348,000 after acquiring an additional 80,198 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in Cirrus Logic by 307.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 706,536 shares of the semiconductor company’s stock valued at $58,777,000 after acquiring an additional 533,019 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Transactions at Cirrus Logic

In other news, Director Alexander M. Davern sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $115.85, for a total value of $115,850.00. Following the completion of the transaction, the director now owns 19,332 shares in the company, valued at approximately $2,239,612.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cirrus Logic news, SVP Scott Thomas sold 11,706 shares of Cirrus Logic stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $120.72, for a total transaction of $1,413,148.32. Following the completion of the transaction, the senior vice president now owns 23,975 shares in the company, valued at $2,894,262. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alexander M. Davern sold 1,000 shares of Cirrus Logic stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $115.85, for a total value of $115,850.00. Following the transaction, the director now owns 19,332 shares of the company’s stock, valued at approximately $2,239,612.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,706 shares of company stock worth $2,187,098. 1.02% of the stock is currently owned by insiders.

Cirrus Logic Stock Performance

CRUS traded down $1.20 on Wednesday, hitting $128.57. 294,954 shares of the company were exchanged, compared to its average volume of 450,721. The firm has a fifty day simple moving average of $112.04 and a two-hundred day simple moving average of $95.47. Cirrus Logic, Inc. has a 12 month low of $65.02 and a 12 month high of $130.29. The stock has a market capitalization of $6.87 billion, a PE ratio of 26.32 and a beta of 0.94.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Tuesday, May 7th. The semiconductor company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.48. The firm had revenue of $371.83 million for the quarter, compared to analyst estimates of $320.14 million. Cirrus Logic had a return on equity of 16.49% and a net margin of 15.35%. On average, equities analysts expect that Cirrus Logic, Inc. will post 4.75 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on CRUS shares. StockNews.com cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Benchmark lowered Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. TD Cowen boosted their price target on Cirrus Logic from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. KeyCorp boosted their price target on Cirrus Logic from $100.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Finally, Barclays boosted their price target on Cirrus Logic from $95.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Cirrus Logic presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.86.

Cirrus Logic Company Profile

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.