Unison Advisors LLC bought a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 6,594 shares of the semiconductor company’s stock, valued at approximately $219,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock worth $216,916,000 after purchasing an additional 24,334 shares during the last quarter. Vanguard Group Inc increased its position in shares of Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 5,619,593 shares of the semiconductor company’s stock worth $216,916,000 after purchasing an additional 24,334 shares during the last quarter. LSV Asset Management increased its position in shares of Cirrus Logic by 1.9% during the 3rd quarter. LSV Asset Management now owns 3,285,586 shares of the semiconductor company’s stock worth $126,823,000 after purchasing an additional 59,700 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Cirrus Logic by 1.9% during the 3rd quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock worth $106,768,000 after purchasing an additional 52,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cirrus Logic by 6.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,272,031 shares of the semiconductor company’s stock worth $87,699,000 after purchasing an additional 144,179 shares during the last quarter. 93.16% of the stock is owned by institutional investors and hedge funds.
Cirrus Logic stock traded up $0.09 during midday trading on Monday, reaching $38.03. 4,883 shares of the stock traded hands, compared to its average volume of 846,440. Cirrus Logic, Inc. has a 12-month low of $31.25 and a 12-month high of $46.18. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Cirrus Logic had a return on equity of 11.88% and a net margin of 7.68%. The company had revenue of $324.30 million during the quarter, compared to analysts’ expectations of $319.37 million. During the same period last year, the business posted $1.59 EPS. Cirrus Logic’s revenue for the quarter was down 32.8% on a year-over-year basis. Equities research analysts anticipate that Cirrus Logic, Inc. will post 1.72 EPS for the current year.
Cirrus Logic declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 30th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the semiconductor company to buy up to 8.9% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
A number of brokerages recently issued reports on CRUS. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Wednesday, December 5th. Zacks Investment Research raised Cirrus Logic from a “sell” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Friday, February 1st. BidaskClub upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. Needham & Company LLC restated a “hold” rating on shares of Cirrus Logic in a report on Wednesday, November 21st. Finally, Cowen restated a “market perform” rating and set a $42.00 target price (down from $44.00) on shares of Cirrus Logic in a report on Thursday, November 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.13.
In other news, Director Timothy R. Dehne sold 3,056 shares of Cirrus Logic stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $38.72, for a total value of $118,328.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Randolph K. Carlson sold 10,848 shares of Cirrus Logic stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $37.43, for a total value of $406,040.64. The disclosure for this sale can be found here. Company insiders own 2.32% of the company’s stock.
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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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