Magnetar Financial LLC Sells 460 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Magnetar Financial LLC cut its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,980 shares of the semiconductor company’s stock after selling 460 shares during the quarter. Magnetar Financial LLC’s holdings in Cirrus Logic were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. Kohmann Bosshard Financial Services LLC bought a new position in shares of Cirrus Logic during the fourth quarter worth $28,000. Westside Investment Management Inc. bought a new position in shares of Cirrus Logic during the third quarter worth $35,000. Sound Income Strategies LLC bought a new position in shares of Cirrus Logic during the fourth quarter worth $46,000. R Squared Ltd bought a new position in shares of Cirrus Logic during the fourth quarter worth $47,000. Finally, Quent Capital LLC boosted its position in shares of Cirrus Logic by 167.2% during the fourth quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock worth $47,000 after purchasing an additional 296 shares in the last quarter. 87.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CRUS shares. Barclays lifted their price target on shares of Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. StockNews.com raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. Finally, Benchmark restated a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a report on Wednesday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $132.86.

Cirrus Logic Trading Down 0.1 %

Shares of CRUS stock opened at $99.79 on Friday. Cirrus Logic, Inc. has a 1 year low of $81.30 and a 1 year high of $147.46. The firm’s fifty day moving average price is $103.35 and its two-hundred day moving average price is $109.50. The firm has a market capitalization of $5.30 billion, a P/E ratio of 18.11 and a beta of 0.89.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Tuesday, February 4th. The semiconductor company reported $2.15 EPS for the quarter, missing analysts’ consensus estimates 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 research analysts forecast that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity

In other news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic stock in a transaction dated Monday, February 3rd. The shares were 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 of the company’s stock, valued at $833,000. This trade represents a 19.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.02% of the company’s stock.

Cirrus Logic 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.