Stifel Financial Corp grew its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 116.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,675 shares of the semiconductor company’s stock after purchasing an additional 12,199 shares during the period. Stifel Financial Corp’s holdings in Cirrus Logic were worth $915,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $100,000. Delpha Capital Management LLC bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $161,000. Victory Capital Management Inc. bought a new stake in shares of Cirrus Logic during the 1st quarter valued at about $245,000. Kendall Capital Management bought a new stake in shares of Cirrus Logic during the 4th quarter valued at about $256,000. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of Cirrus Logic by 66.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 6,448 shares of the semiconductor company’s stock valued at $262,000 after purchasing an additional 2,566 shares in the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on CRUS shares. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Saturday, June 16th. Craig Hallum raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and cut their target price for the company from $44.00 to $43.00 in a research note on Monday, April 30th. TheStreet lowered shares of Cirrus Logic from a “b-” rating to a “c+” rating in a research note on Tuesday, April 17th. Zacks Investment Research raised shares of Cirrus Logic from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 10th. Finally, ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Five research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.40.
Shares of NASDAQ CRUS opened at $38.33 on Friday. Cirrus Logic, Inc. has a 1 year low of $34.78 and a 1 year high of $66.87. The stock has a market cap of $2.34 billion, a P/E ratio of 10.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.29.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Wednesday, May 2nd. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.07). Cirrus Logic had a net margin of 10.57% and a return on equity of 20.50%. The business had revenue of $303.20 million for the quarter, compared to analysts’ expectations of $316.57 million. During the same period last year, the business earned $0.85 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. equities analysts anticipate that Cirrus Logic, Inc. will post 2.58 earnings per share for the current year.
Cirrus Logic Company 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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