Polianta Ltd raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 30.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,400 shares of the semiconductor company’s stock after acquiring an additional 5,500 shares during the period. Polianta Ltd’s holdings in Cirrus Logic were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. State Street Corp grew its position in Cirrus Logic by 2.2% in the 2nd quarter. State Street Corp now owns 2,274,959 shares of the semiconductor company’s stock valued at $142,688,000 after acquiring an additional 48,716 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Cirrus Logic by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,637,193 shares of the semiconductor company’s stock worth $87,293,000 after buying an additional 140,460 shares during the period. Northern Trust Corp lifted its holdings in shares of Cirrus Logic by 3.4% in the 2nd quarter. Northern Trust Corp now owns 1,212,478 shares of the semiconductor company’s stock worth $76,047,000 after buying an additional 40,264 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Cirrus Logic by 69.6% in the 3rd quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock worth $51,562,000 after buying an additional 396,890 shares during the period. Finally, Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Cirrus Logic by 187.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 870,484 shares of the semiconductor company’s stock worth $46,414,000 after buying an additional 567,354 shares during the period. 89.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $54.14, for a total transaction of $270,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 6,123 shares of company stock worth $328,718. Company insiders own 1.92% of the company’s stock.
Several equities research analysts have weighed in on CRUS shares. Northland Securities reiterated a “buy” rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price target on shares of Cirrus Logic in a research note on Tuesday, September 19th. ValuEngine cut Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Zacks Investment Research cut Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Bank of America assumed coverage on Cirrus Logic in a research note on Monday, September 18th. They issued an “underperform” rating and a $50.00 price target for the company. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company’s stock. Cirrus Logic has an average rating of “Hold” and an average target price of $65.76.
Cirrus Logic, Inc. (NASDAQ CRUS) traded up $0.50 during trading on Tuesday, reaching $52.84. The company had a trading volume of 531,700 shares, compared to its average volume of 761,956. The firm has a market capitalization of $3,360.00 and a price-to-earnings ratio of 12.92. Cirrus Logic, Inc. has a 12-month low of $48.61 and a 12-month high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.20 by $0.16. The company had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. Cirrus Logic’s quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share. research analysts predict that Cirrus Logic, Inc. will post 4.21 EPS for the current year.
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About Cirrus Logic
Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.
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