Skandinaviska Enskilda Banken AB publ Has $1.91 Million Stock Holdings in Cirrus Logic, Inc. $CRUS

Skandinaviska Enskilda Banken AB publ trimmed its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 71.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,248 shares of the semiconductor company’s stock after selling 38,400 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Cirrus Logic were worth $1,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Diversified Trust Co increased its position in Cirrus Logic by 0.9% in the 3rd quarter. Diversified Trust Co now owns 8,974 shares of the semiconductor company’s stock valued at $1,124,000 after acquiring an additional 78 shares in the last quarter. EP Wealth Advisors LLC grew its stake in shares of Cirrus Logic by 1.7% during the second quarter. EP Wealth Advisors LLC now owns 5,739 shares of the semiconductor company’s stock valued at $598,000 after purchasing an additional 95 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Cirrus Logic by 3.3% during the second quarter. Quadrant Capital Group LLC now owns 3,394 shares of the semiconductor company’s stock valued at $354,000 after purchasing an additional 107 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Cirrus Logic by 2.0% in the second quarter. MML Investors Services LLC now owns 6,625 shares of the semiconductor company’s stock valued at $691,000 after purchasing an additional 129 shares in the last quarter. Finally, Stonegate Investment Group LLC raised its position in Cirrus Logic by 6.2% in the 3rd quarter. Stonegate Investment Group LLC now owns 2,298 shares of the semiconductor company’s stock worth $288,000 after purchasing an additional 134 shares during the last quarter. Institutional investors and hedge funds own 87.96% of the company’s stock.

Insider Activity at Cirrus Logic

In other news, EVP Scott Thomas sold 3,239 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $141.63, for a total value of $458,739.57. Following the completion of the transaction, the executive vice president owned 30,393 shares of the company’s stock, valued at $4,304,560.59. The trade was a 9.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Justin E. Dougherty sold 3,000 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $143.16, for a total transaction of $429,480.00. Following the completion of the sale, the executive vice president owned 5,876 shares of the company’s stock, valued at approximately $841,208.16. This represents a 33.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 28,045 shares of company stock worth $3,835,300. 1.16% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRUS. Benchmark increased their price objective on Cirrus Logic from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Barclays upped their price target on Cirrus Logic from $100.00 to $110.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. KeyCorp lifted their price objective on Cirrus Logic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Loop Capital downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating and set a $130.00 target price on the stock. in a research report on Monday, February 2nd. Finally, Williams Trading set a $150.00 target price on shares of Cirrus Logic in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Cirrus Logic has an average rating of “Moderate Buy” and a consensus price target of $145.43.

Cirrus Logic Trading Up 1.3%

NASDAQ:CRUS opened at $142.14 on Friday. Cirrus Logic, Inc. has a 1-year low of $75.83 and a 1-year high of $146.88. The business’s 50-day moving average price is $128.31 and its two-hundred day moving average price is $123.04. The firm has a market capitalization of $7.25 billion, a price-to-earnings ratio of 18.73 and a beta of 1.12.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Tuesday, February 3rd. The semiconductor company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.60. The company had revenue of $580.62 million during the quarter, compared to analyst estimates of $531.43 million. Cirrus Logic had a return on equity of 20.41% and a net margin of 20.47%.The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.51 EPS. Sell-side analysts predict that Cirrus Logic, Inc. will post 5.63 earnings per share for the current year.

Cirrus Logic Profile

Cirrus Logic, Inc, headquartered in Austin, Texas, is a fabless semiconductor company specializing in high-precision analog and mixed-signal processing solutions. The firm develops low-power, high-performance audio, voice, and power management integrated circuits, serving prominent consumer electronics OEMs. Its semiconductor devices are designed to enhance audio quality, battery life, and system integration in mobile phones, tablets, wireless headsets and other portable devices.

The company’s product portfolio includes digital-to-analog converters (DACs), analog-to-digital converters (ADCs), audio codecs, power management ICs, voice processors and integrated amplifiers.