Meeder Asset Management Inc. Reduces Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

Meeder Asset Management Inc. lessened its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 75.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,463 shares of the semiconductor company’s stock after selling 7,533 shares during the period. Meeder Asset Management Inc.’s holdings in Cirrus Logic were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Citigroup Inc. grew its holdings in Cirrus Logic by 137.1% during the 3rd quarter. Citigroup Inc. now owns 32,650 shares of the semiconductor company’s stock valued at $4,055,000 after buying an additional 18,877 shares during the last quarter. Cerity Partners LLC increased its position in Cirrus Logic by 401.4% during the 3rd quarter. Cerity Partners LLC now owns 19,869 shares of the semiconductor company’s stock worth $2,468,000 after purchasing an additional 15,906 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in Cirrus Logic in the 3rd quarter valued at about $286,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Cirrus Logic by 6.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,928 shares of the semiconductor company’s stock valued at $1,482,000 after purchasing an additional 686 shares in the last quarter. Finally, Captrust Financial Advisors boosted its stake in shares of Cirrus Logic by 5.3% during the 3rd quarter. Captrust Financial Advisors now owns 2,838 shares of the semiconductor company’s stock worth $353,000 after purchasing an additional 142 shares during the last quarter. 87.96% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic Stock Up 0.1 %

Shares of NASDAQ CRUS opened at $99.65 on Tuesday. The stock has a market capitalization of $5.30 billion, a PE ratio of 18.09 and a beta of 0.89. The firm has a fifty day moving average of $103.45 and a 200-day moving average of $107.92. Cirrus Logic, Inc. has a 52-week low of $81.30 and a 52-week 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 net margin of 16.55% and a return on equity of 16.60%. Equities research analysts expect that Cirrus Logic, Inc. will post 5.63 EPS for the current fiscal year.

Insider Transactions at Cirrus Logic

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of Cirrus Logic 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 transaction, the executive vice president now owns 8,330 shares in the company, valued at approximately $833,000. The trade was a 19.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company’s stock.

Wall Street Analyst Weigh In

CRUS has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and set a $125.00 price objective on shares of Cirrus Logic in a research note on Wednesday, March 19th. Barclays increased their price target on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. Finally, StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.86.

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.