FMR LLC Trims Cirrus Logic Stake to 10.408%
Ticker: CRUS · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 772406
| Field | Detail |
|---|---|
| Company | Cirrus Logic, Inc. (CRUS) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**FMR LLC slightly cut its Cirrus Logic stake to 10.408%, still a big holder.**
AI Summary
FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have updated their ownership stake in Cirrus Logic Inc. (CRUS) to 10.408% of the common stock, totaling 5,610,083 shares. This filing, an amendment to a previous SC 13G, indicates a significant, but slightly reduced, passive investment as of February 9, 2024. For investors, this shows that a large institutional holder maintains a substantial, albeit slightly smaller, position in Cirrus Logic, suggesting continued confidence in the company's long-term prospects, but also a minor reduction in exposure.
Why It Matters
This filing reveals a slight reduction in a major institutional investor's stake, which could signal a minor shift in their outlook on Cirrus Logic's future performance or a portfolio rebalancing.
Risk Assessment
Risk Level: low — The change in ownership percentage is minor, and FMR LLC remains a significant shareholder, indicating no immediate high-risk concerns.
Analyst Insight
Investors should note that while FMR LLC remains a major holder, the slight reduction in their stake might warrant a closer look at Cirrus Logic's recent performance and future outlook to understand if there are underlying reasons for this adjustment, or if it's simply portfolio rebalancing.
Key Numbers
- 5,610,083 — Shares Beneficially Owned (Represents the total number of Cirrus Logic common stock shares FMR LLC and Abigail P. Johnson collectively own.)
- 10.408% — Percent of Class (Indicates the proportion of Cirrus Logic's common stock owned by FMR LLC and Abigail P. Johnson, showing their significant influence.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
- CIRRUS LOGIC, INC. (company) — subject company, issuer of the common stock
- 5,610,083 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
- 10.408% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant, but passive, stake in Cirrus Logic Inc. for the foreseeable future. (FMR LLC) — high confidence, target: 2025-02-09
FAQ
What is the primary purpose of this SC 13G/A filing by FMR LLC?
This SC 13G/A filing is an amendment (Amendment No. 5) to report a change in the beneficial ownership of common stock in CIRRUS LOGIC INC. by FMR LLC and Abigail P. Johnson, filed pursuant to Rule 13d-1(b).
How many shares of Cirrus Logic common stock does FMR LLC beneficially own as reported in this filing?
FMR LLC beneficially owns 5,610,083 shares of CIRRUS LOGIC INC. common stock, as stated in Item 4(a) and Item 9 of the cover page for FMR LLC.
What percentage of Cirrus Logic's common stock does FMR LLC and Abigail P. Johnson collectively own?
FMR LLC and Abigail P. Johnson collectively own 10.408% of CIRRUS LOGIC INC.'s common stock, as reported in Item 11 on both reporting persons' cover pages and Item 4(b).
What is the CUSIP number for Cirrus Logic Inc. common stock mentioned in the filing?
The CUSIP number for CIRRUS LOGIC INC. common stock is 172755100, as listed in Item 2(e) and on the cover pages.
Where are Cirrus Logic Inc.'s principal executive offices located according to the filing?
CIRRUS LOGIC INC.'s principal executive offices are located at 800 West 6th Street, Austin, TX 78701 USA, as stated in Item 1(b).
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding CIRRUS LOGIC, INC. (CRUS).