Securian Asset Management Inc. Sells 136 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Securian Asset Management Inc. cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,017 shares of the semiconductor company’s stock after selling 136 shares during the period. Securian Asset Management Inc.’s holdings in Cirrus Logic were worth $400,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of Cirrus Logic by 10,500.0% during the third quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 210 shares in the last quarter. Kohmann Bosshard Financial Services LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at approximately $28,000. Westside Investment Management Inc. purchased a new stake in Cirrus Logic during the third quarter valued at approximately $35,000. Sound Income Strategies LLC purchased a new stake in Cirrus Logic during the fourth quarter valued at approximately $46,000. Finally, R Squared Ltd purchased a new stake in Cirrus Logic during the fourth quarter valued at approximately $47,000. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Trading Up 0.5 %

NASDAQ CRUS opened at $100.86 on Wednesday. The company has a fifty day simple moving average of $103.57 and a two-hundred day simple moving average of $110.15. The stock has a market cap of $5.36 billion, a P/E ratio of 18.30 and a beta of 0.89. Cirrus Logic, Inc. has a 12-month low of $81.30 and a 12-month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results 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 return on equity of 16.60% and a net margin of 16.55%. As a group, sell-side analysts forecast that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In related 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 $833,000. This trade represents a 19.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

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.