Aperio Group LLC raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 51,574 shares of the semiconductor company’s stock after buying an additional 6,573 shares during the period. Aperio Group LLC owned about 0.08% of Cirrus Logic worth $1,991,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. grace capital purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth about $115,000. Bank of Montreal Can lifted its position in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after purchasing an additional 1,593 shares during the period. First Hawaiian Bank purchased a new stake in shares of Cirrus Logic in the 3rd quarter worth about $140,000. Itau Unibanco Holding S.A. lifted its position in shares of Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 1,782 shares during the period. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Cirrus Logic in the 2nd quarter worth about $216,000. 89.21% of the stock is owned by institutional investors and hedge funds.
In related news, Director Timothy R. Dehne sold 4,171 shares of Cirrus Logic stock in a transaction dated Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.32% of the company’s stock.
CRUS has been the subject of several research analyst reports. BidaskClub cut shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. ValuEngine raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 25th. Cowen raised their target price on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a research report on Thursday, August 2nd. Craig Hallum raised their target price on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, Bank of America raised their target price on shares of Cirrus Logic from $28.00 to $33.00 and gave the stock an “underperform” rating in a research report on Thursday, August 2nd. Four 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 company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $47.88.
Shares of NASDAQ CRUS opened at $41.37 on Friday. Cirrus Logic, Inc. has a 1 year low of $34.49 and a 1 year high of $57.55. The stock has a market cap of $2.49 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.45.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The company had revenue of $366.30 million during the quarter, compared to analysts’ expectations of $330.27 million. During the same period last year, the company posted $1.36 EPS. Cirrus Logic’s revenue was down 13.9% on a year-over-year basis. As a group, equities analysts anticipate that Cirrus Logic, Inc. will post 2.44 earnings per share for the current year.
Cirrus Logic 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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