QS Investors LLC cut its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 125,330 shares of the semiconductor company’s stock after selling 4,770 shares during the period. QS Investors LLC owned about 0.20% of Cirrus Logic worth $6,500,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Deutsche Bank AG boosted its holdings in shares of Cirrus Logic by 39.8% in the 4th quarter. Deutsche Bank AG now owns 588,469 shares of the semiconductor company’s stock valued at $30,516,000 after buying an additional 167,607 shares during the period. Jefferies Group LLC bought a new stake in Cirrus Logic in the 4th quarter valued at about $420,000. Sapphire Star Partners LP lifted its position in Cirrus Logic by 208.4% in the 4th quarter. Sapphire Star Partners LP now owns 12,224 shares of the semiconductor company’s stock valued at $634,000 after purchasing an additional 8,260 shares during the last quarter. AMP Capital Investors Ltd lifted its position in Cirrus Logic by 14.6% in the 4th quarter. AMP Capital Investors Ltd now owns 17,995 shares of the semiconductor company’s stock valued at $934,000 after purchasing an additional 2,295 shares during the last quarter. Finally, Profund Advisors LLC lifted its position in Cirrus Logic by 15.0% in the 4th quarter. Profund Advisors LLC now owns 23,406 shares of the semiconductor company’s stock valued at $1,214,000 after purchasing an additional 3,060 shares during the last quarter. 91.49% of the stock is owned by institutional investors and hedge funds.
In other news, VP Randolph K. Carlson sold 7,265 shares of Cirrus Logic stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total value of $305,347.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christine King sold 562 shares of Cirrus Logic stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $49.75, for a total transaction of $27,959.50. Following the completion of the transaction, the director now directly owns 11,744 shares in the company, valued at $584,264. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,450 shares of company stock worth $363,121. 1.92% of the stock is currently owned by insiders.
Cirrus Logic, Inc. (CRUS) opened at $44.52 on Wednesday. The firm has a market cap of $2,860.36, a P/E ratio of 16.01, a PEG ratio of 1.31 and a beta of 0.11. Cirrus Logic, Inc. has a 1 year low of $39.51 and a 1 year high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Monday, February 5th. The semiconductor company reported $1.59 earnings per share for the quarter, missing the consensus estimate of $1.78 by ($0.19). The firm had revenue of $482.70 million during the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a return on equity of 22.60% and a net margin of 11.89%. The business’s revenue was down 7.7% on a year-over-year basis. During the same period last year, the business earned $1.87 earnings per share. sell-side analysts anticipate that Cirrus Logic, Inc. will post 3.78 EPS for the current fiscal year.
Cirrus Logic declared that its Board of Directors has approved a share buyback plan on Monday, February 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Cirrus Logic Profile
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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