Stevens Capital Management LP bought a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,286 shares of the semiconductor company’s stock, valued at approximately $1,061,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Investors Research Corp bought a new position in shares of Cirrus Logic during the 1st quarter worth approximately $25,000. Quadrant Capital Group LLC grew its stake in shares of Cirrus Logic by 596.7% during the 1st quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 549 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $33,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Cirrus Logic during the 2nd quarter worth approximately $44,000. Finally, Public Employees Retirement System of Ohio grew its stake in shares of Cirrus Logic by 10.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 3,339 shares of the semiconductor company’s stock worth $111,000 after acquiring an additional 320 shares in the last quarter. 84.86% of the stock is owned by institutional investors and hedge funds.
In other Cirrus Logic news, VP Bradley J. Fluke sold 8,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $42.77, for a total transaction of $342,160.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason P. Rhode sold 128,847 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $52.14, for a total value of $6,718,082.58. The disclosure for this sale can be found here. In the last three months, insiders sold 146,430 shares of company stock valued at $7,565,529. 2.79% of the stock is currently owned by insiders.
Several equities analysts have recently weighed in on the stock. Craig Hallum reaffirmed a “hold” rating and set a $42.00 price target (up from $38.00) on shares of Cirrus Logic in a research note on Thursday, August 1st. BidaskClub cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. ValuEngine raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a report on Monday, August 5th. Finally, Bank of America reissued an “underperform” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Cirrus Logic currently has a consensus rating of “Hold” and a consensus target price of $50.13.
NASDAQ CRUS opened at $54.54 on Friday. The company has a market cap of $3.17 billion, a PE ratio of 26.60, a PEG ratio of 1.77 and a beta of 0.95. The company has a current ratio of 4.30, a quick ratio of 3.18 and a debt-to-equity ratio of 0.12. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $60.00. The stock has a 50 day moving average of $47.99 and a 200-day moving average of $43.58.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.21. The company had revenue of $238.25 million during the quarter, compared to the consensus estimate of $221.08 million. Cirrus Logic had a return on equity of 10.96% and a net margin of 8.46%. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 1.98 EPS for the current fiscal 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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