James Investment Research Inc. purchased a new stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 54,440 shares of the semiconductor company’s stock, valued at approximately $2,101,000. James Investment Research Inc. owned 0.09% of Cirrus Logic as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of CRUS. Partner Fund Management L.P. purchased a new stake in Cirrus Logic during the second quarter valued at about $28,998,000. BlackRock Inc. boosted its position in Cirrus Logic by 7.8% during the second quarter. BlackRock Inc. now owns 8,486,370 shares of the semiconductor company’s stock valued at $325,283,000 after buying an additional 610,960 shares during the period. Letko Brosseau & Associates Inc. boosted its position in Cirrus Logic by 58.9% during the second quarter. Letko Brosseau & Associates Inc. now owns 628,960 shares of the semiconductor company’s stock valued at $24,108,000 after buying an additional 233,060 shares during the period. Russell Investments Group Ltd. boosted its position in Cirrus Logic by 294.9% during the third quarter. Russell Investments Group Ltd. now owns 295,432 shares of the semiconductor company’s stock valued at $11,394,000 after buying an additional 220,612 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in Cirrus Logic by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 2,127,852 shares of the semiconductor company’s stock valued at $81,562,000 after buying an additional 195,501 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
In related news, Director Timothy R. Dehne sold 4,171 shares of the stock in a transaction dated Sunday, August 26th. The shares were sold at an average price of $44.99, for a total value of $187,653.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.32% of the company’s stock.
Several analysts have issued reports on CRUS shares. ValuEngine upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating in a report on Tuesday, September 18th. Bank of America increased their target price on shares of Cirrus Logic from $28.00 to $33.00 and gave the stock an “underperform” rating in a report on Thursday, August 2nd. Susquehanna Bancshares increased their target price on shares of Cirrus Logic from $45.00 to $59.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Finally, Craig Hallum increased their target price on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $53.24.
Cirrus Logic stock opened at $40.25 on Friday. The stock has a market cap of $2.31 billion, a PE ratio of 12.05, a PEG ratio of 0.95 and a beta of 0.41. Cirrus Logic, Inc. has a 1-year low of $34.49 and a 1-year high of $58.80.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.34. The company had revenue of $366.30 million during the quarter, compared to analyst estimates of $330.27 million. Cirrus Logic had a net margin of 7.83% and a return on equity of 17.46%. Cirrus Logic’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.36 earnings per share. As a group, research analysts predict that Cirrus Logic, Inc. will post 2.66 EPS 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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