Robeco Institutional Asset Management B.V. Sells 261,137 Shares of Cirrus Logic, Inc. $CRUS

Robeco Institutional Asset Management B.V. trimmed its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 37.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 427,809 shares of the semiconductor company’s stock after selling 261,137 shares during the period. Robeco Institutional Asset Management B.V. owned 0.85% of Cirrus Logic worth $51,324,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in Cirrus Logic during the second quarter worth about $840,638,000. Dimensional Fund Advisors LP lifted its holdings in Cirrus Logic by 6.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,328,155 shares of the semiconductor company’s stock worth $192,055,000 after acquiring an additional 83,897 shares during the last quarter. Bank of America Corp DE bought a new position in Cirrus Logic in the second quarter worth about $168,329,000. Quantinno Capital Management LP boosted its stake in Cirrus Logic by 21.1% in the first quarter. Quantinno Capital Management LP now owns 942,207 shares of the semiconductor company’s stock valued at $136,262,000 after acquiring an additional 163,979 shares during the period. Finally, First Trust Advisors LP boosted its stake in Cirrus Logic by 34.3% in the first quarter. First Trust Advisors LP now owns 473,721 shares of the semiconductor company’s stock valued at $68,509,000 after acquiring an additional 120,935 shares during the period. 87.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wall Street Zen lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Sunday, October 18th. Weiss Ratings raised Cirrus Logic from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Susquehanna cut their price target on Cirrus Logic from $200.00 to $170.00 and set a “positive” rating on the stock in a report on Wednesday. Barclays lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $130.00 to $95.00 in a research report on Tuesday. Finally, KeyCorp downgraded Cirrus Logic from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $147.86.

Insiders Place Their Bets

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

Cirrus Logic Stock Down 0.1%

Shares of NASDAQ CRUS opened at $110.49 on Friday. The stock has a market cap of $5.54 billion, a P/E ratio of 13.52 and a beta of 1.17. The firm’s 50-day simple moving average is $114.76 and its 200 day simple moving average is $140.53. Cirrus Logic, Inc. has a fifty-two week low of $105.10 and a fifty-two week high of $180.42.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 5th. The semiconductor company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.03. The firm had revenue of $459.72 million during the quarter, compared to analyst estimates of $460.32 million. Cirrus Logic had a net margin of 21.00% and a return on equity of 20.61%. Cirrus Logic’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.51 EPS. On average, sell-side analysts anticipate that Cirrus Logic, Inc. will post 7.20 earnings per share for the current fiscal year.

Cirrus Logic Profile

Cirrus Logic, Inc is a fabless semiconductor company that designs high-performance, low-power analog and mixed-signal integrated circuits. Its products are used to process, manage and enhance audio and other signals in electronic devices, including smartphones, tablets, laptops, headphones, smart speakers and automotive systems.

The company’s product portfolio includes audio codecs, digital-to-analog and analog-to-digital converters, amplifiers, haptic controllers, sensing solutions and power-management components.