Rhumbline Advisers decreased its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 126,849 shares of the semiconductor company’s stock after selling 4,357 shares during the quarter. Rhumbline Advisers owned about 0.21% of Cirrus Logic worth $4,896,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. grace capital bought a new stake in Cirrus Logic during the 2nd quarter valued at approximately $115,000. Bank of Montreal Can boosted its stake in Cirrus Logic by 88.7% during the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,593 shares during the period. First Hawaiian Bank bought a new stake in Cirrus Logic during the 3rd quarter valued at approximately $140,000. Itau Unibanco Holding S.A. boosted its stake in Cirrus Logic by 91.8% during the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 1,782 shares during the period. Finally, USA Financial Portformulas Corp bought a new stake in Cirrus Logic during the 3rd quarter valued at approximately $269,000. Hedge funds and other institutional investors own 90.44% of the company’s stock.
Shares of CRUS stock opened at $36.75 on Friday. Cirrus Logic, Inc. has a 12 month low of $34.49 and a 12 month high of $55.13. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.29 and a beta of 0.50.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.34. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The company had revenue of $366.30 million during the quarter, compared to the consensus estimate of $330.27 million. During the same quarter last year, the company earned $1.36 EPS. The company’s quarterly revenue was down 13.9% on a year-over-year basis. On average, sell-side analysts expect that Cirrus Logic, Inc. will post 1.96 earnings per share for the current fiscal year.
Several brokerages recently weighed in on CRUS. ValuEngine upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. BidaskClub downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research downgraded Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Bank of America set a $29.00 price objective on Cirrus Logic and gave the stock a “sell” rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cirrus Logic in a research report on Wednesday, November 21st. Four research analysts have rated the stock with a sell rating, three have assigned 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 a consensus target price of $45.88.
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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