Chicago Equity Partners LLC decreased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 60.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 80,601 shares of the semiconductor company’s stock after selling 124,115 shares during the period. Chicago Equity Partners LLC owned approximately 0.13% of Cirrus Logic worth $3,111,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. USA Financial Portformulas Corp purchased a new stake in Cirrus Logic in the third quarter valued at approximately $269,000. Robeco Institutional Asset Management B.V. purchased a new stake in Cirrus Logic in the third quarter valued at approximately $1,548,000. Acadian Asset Management LLC grew its holdings in Cirrus Logic by 4,851.1% in the third quarter. Acadian Asset Management LLC now owns 9,209 shares of the semiconductor company’s stock valued at $355,000 after purchasing an additional 9,023 shares during the period. James Investment Research Inc. purchased a new stake in Cirrus Logic in the third quarter valued at approximately $2,101,000. Finally, Russell Investments Group Ltd. grew its holdings in Cirrus Logic by 294.9% in the third quarter. Russell Investments Group Ltd. now owns 295,432 shares of the semiconductor company’s stock valued at $11,394,000 after purchasing an additional 220,612 shares during the period. Hedge funds and other institutional investors own 89.21% of the company’s stock.
In other Cirrus Logic news, Director Timothy R. Dehne sold 4,171 shares of the business’s stock in a transaction that occurred on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.32% of the stock is owned by insiders.
CRUS opened at $41.37 on Friday. Cirrus Logic, Inc. has a 52-week low of $34.49 and a 52-week high of $57.55. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of 1.08 and a beta of 0.45.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $330.27 million. During the same period in the previous year, the firm earned $1.36 earnings per share. Cirrus Logic’s revenue for the quarter was down 13.9% on a year-over-year basis. As a group, sell-side analysts predict that Cirrus Logic, Inc. will post 2.44 EPS for the current year.
A number of research firms recently issued reports on CRUS. BidaskClub upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Wednesday, August 29th. ValuEngine upgraded shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Tuesday, August 7th. Cowen boosted their price objective on shares of Cirrus Logic from $40.00 to $44.00 and gave the stock a “market perform” rating in a research note on Thursday, August 2nd. Finally, Craig Hallum boosted their price objective on shares of Cirrus Logic from $43.00 to $51.00 and gave the stock a “buy” rating in a research note 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. The stock currently has a consensus rating of “Hold” and an average target price of $47.88.
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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