Bank of New York Mellon Corp decreased its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 775,334 shares of the semiconductor company’s stock after selling 22,482 shares during the period. Bank of New York Mellon Corp owned 1.32% of Cirrus Logic worth $50,885,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in Cirrus Logic by 83.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 513 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 233 shares during the period. OmniStar Financial Group Inc. acquired a new position in Cirrus Logic in the first quarter valued at about $50,000. Valeo Financial Advisors LLC acquired a new position in Cirrus Logic in the fourth quarter valued at about $58,000. NEXT Financial Group Inc lifted its stake in Cirrus Logic by 79.6% in the fourth quarter. NEXT Financial Group Inc now owns 738 shares of the semiconductor company’s stock valued at $61,000 after buying an additional 327 shares during the period. Finally, Anderson Fisher LLC acquired a new position in Cirrus Logic in the fourth quarter valued at about $81,000. Institutional investors and hedge funds own 89.10% of the company’s stock.

NASDAQ CRUS opened at $73.48 on Friday. The firm has a market cap of $4.30 billion, a P/E ratio of 22.41, a P/E/G ratio of 3.75 and a beta of 1.03. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.10 and a quick ratio of 3.17. The stock’s 50-day moving average is $68.95 and its 200-day moving average is $73.14. Cirrus Logic, Inc. has a one year low of $37.24 and a one year high of $91.63.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings data on Monday, May 4th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.18. The business had revenue of $279.29 million during the quarter, compared to the consensus estimate of $258.73 million. Cirrus Logic had a return on equity of 16.46% and a net margin of 12.45%. Cirrus Logic’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period last year, the company earned $0.37 earnings per share. Equities analysts anticipate that Cirrus Logic, Inc. will post 2.3 EPS for the current year.

Several equities analysts have weighed in on CRUS shares. Bank of America raised Cirrus Logic from an “underperform” rating to a “buy” rating and increased their target price for the company from $60.00 to $80.00 in a research note on Tuesday, March 31st. BidaskClub lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Thursday, May 14th. Craig Hallum increased their target price on Cirrus Logic from $52.00 to $65.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Cowen raised Cirrus Logic from a “market perform” rating to an “outperform” rating in a research note on Monday, March 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cirrus Logic in a research report on Monday, May 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $80.67.

In related news, VP Scott Arnold Anderson sold 12,000 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $73.85, for a total transaction of $886,200.00. Following the completion of the transaction, the vice president now directly owns 15,555 shares in the company, valued at $1,148,736.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, President John Forsyth sold 1,500 shares of the stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $75.00, for a total value of $112,500.00. Following the transaction, the president now owns 1,500 shares of the company’s stock, valued at $112,500. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,648 shares of company stock valued at $7,966,155. 2.79% of the stock is owned by corporate insiders.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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