Cirrus Logic, Inc. $CRUS Stock Sold by Leuthold Group LLC

Leuthold Group LLC lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 68.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,169 shares of the semiconductor company’s stock after selling 15,534 shares during the period. Leuthold Group LLC’s holdings in Cirrus Logic were worth $860,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRUS. GAMMA Investing LLC lifted its holdings in Cirrus Logic by 3.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,742 shares of the semiconductor company’s stock worth $329,000 after buying an additional 100 shares in the last quarter. Wedmont Private Capital boosted its position in Cirrus Logic by 6.9% in the 2nd quarter. Wedmont Private Capital now owns 1,644 shares of the semiconductor company’s stock valued at $247,000 after buying an additional 106 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Cirrus Logic by 120.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 220 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in shares of Cirrus Logic by 72.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 295 shares of the semiconductor company’s stock valued at $44,000 after buying an additional 124 shares during the period. Finally, RHS Financial LLC increased its stake in shares of Cirrus Logic by 6.8% in the 3rd quarter. RHS Financial LLC now owns 1,968 shares of the semiconductor company’s stock valued at $236,000 after buying an additional 125 shares during the period. Institutional investors own 87.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Barclays cut Cirrus Logic from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $130.00 to $95.00 in a report on Tuesday, October 20th. Stifel Nicolaus dropped their price objective on Cirrus Logic from $197.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Weiss Ratings downgraded shares of Cirrus Logic from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, November 3rd. Wall Street Zen lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Sunday, October 18th. Finally, KeyCorp cut shares of Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $147.50.

Insiders Place Their Bets

In related news, EVP Jeffrey Baumgartner sold 1,166 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $107.75, for a total transaction of $125,636.50. Following the transaction, the executive vice president owned 11,741 shares of the company’s stock, valued at $1,265,092.75. This trade represents a 9.03% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,498 shares of company stock worth $401,850. 1.20% of the stock is owned by company insiders.

Cirrus Logic Trading Up 1.6%

NASDAQ CRUS opened at $120.17 on Wednesday. Cirrus Logic, Inc. has a 12 month low of $105.10 and a 12 month high of $180.42. The stock has a 50-day simple moving average of $114.66 and a 200 day simple moving average of $138.05. The company has a market capitalization of $5.99 billion, a PE ratio of 15.17 and a beta of 1.23.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Wednesday, November 4th. The semiconductor company reported $2.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.42 by $0.28. The firm had revenue of $559.46 million for the quarter, compared to analysts’ expectations of $540.37 million. Cirrus Logic had a return on equity of 19.77% and a net margin of 20.20%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.83 earnings per share. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 7.20 earnings per share for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic is a fabless semiconductor company that designs high-performance, low-power integrated circuits, with a focus on audio and mixed-signal technologies. Its products include audio converters and codecs, amplifiers, and other components used to capture, process, and reproduce sound. The company also develops mixed-signal products for applications such as haptics and power management. Its chips are designed for a range of markets, including smartphones, computers, consumer audio equipment, automotive systems, and industrial devices.