Thrivent Financial for Lutherans Sells 160 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Thrivent Financial for Lutherans reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,271 shares of the semiconductor company’s stock after selling 160 shares during the period. Thrivent Financial for Lutherans’ holdings in Cirrus Logic were worth $1,300,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRUS. Wasatch Advisors Inc. bought a new position in shares of Cirrus Logic during the second quarter valued at about $50,508,000. Millennium Management LLC lifted its position in shares of Cirrus Logic by 67.2% during the second quarter. Millennium Management LLC now owns 1,182,317 shares of the semiconductor company’s stock valued at $100,639,000 after purchasing an additional 475,050 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Cirrus Logic during the second quarter valued at about $40,270,000. Islet Management LP bought a new stake in Cirrus Logic in the second quarter worth about $31,069,000. Finally, Kettle Hill Capital Management LLC bought a new stake in Cirrus Logic in the second quarter worth about $18,788,000. 84.34% of the stock is currently owned by institutional investors.

In other news, VP Jodee Benson sold 10,562 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $88.00, for a total value of $929,456.00. Following the completion of the sale, the vice president now directly owns 15,054 shares in the company, valued at approximately $1,324,752. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jeffrey W. Baumgartner sold 25,290 shares of the business’s stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $83.24, for a total transaction of $2,105,139.60. The disclosure for this sale can be found here. 2.04% of the stock is currently owned by insiders.

Shares of NASDAQ:CRUS opened at $81.05 on Thursday. The company has a 50 day moving average of $81.24 and a 200 day moving average of $81.00. The stock has a market cap of $4.63 billion, a P/E ratio of 20.01, a P/E/G ratio of 1.98 and a beta of 0.83. Cirrus Logic, Inc. has a 12 month low of $71.11 and a 12 month high of $103.25.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Sunday, October 31st. The semiconductor company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.63 by $0.19. The company had revenue of $465.89 million during the quarter, compared to analysts’ expectations of $450.38 million. Cirrus Logic had a net margin of 15.89% and a return on equity of 18.40%. Cirrus Logic’s revenue for the quarter was up 34.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.07 earnings per share. On average, equities analysts anticipate that Cirrus Logic, Inc. will post 4.41 earnings per share for the current year.

Several analysts have commented on the stock. Barclays raised shares of Cirrus Logic from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $95.00 to $100.00 in a research report on Tuesday, September 7th. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Cirrus Logic in a research report on Tuesday, November 2nd. KeyCorp lifted their price objective on shares of Cirrus Logic from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, July 29th. Bank of America lowered shares of Cirrus Logic from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $105.83 to $92.00 in a research report on Friday, September 17th. Finally, Benchmark assumed coverage on shares of Cirrus Logic in a research report on Thursday, July 29th. They issued a “buy” rating and a $110.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $104.20.

Cirrus Logic Profile

Cirrus Logic, Inc develops high-precision, analog and mixed-signal integrated circuits for a range of customers. It builds an analog and signal-processing patent portfolio. The firm delivers optimized products for a variety of audio, industrial and energy-related applications. Its product lines include portable audio products and non-portable audio and other products.

See Also: Google Finance Portfolio

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUS).

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

Receive News & Ratings for Cirrus Logic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic and related companies with MarketBeat.com's FREE daily email newsletter.