Cirrus Logic, Inc. (CRUS) Shares Sold by ZPR Investment Management

ZPR Investment Management lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 7.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,995 shares of the semiconductor company’s stock after selling 1,845 shares during the quarter. Cirrus Logic makes up about 2.2% of ZPR Investment Management’s holdings, making the stock its 16th largest holding. ZPR Investment Management’s holdings in Cirrus Logic were worth $1,442,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $102,000. ETRADE Capital Management LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $201,000. Private Advisor Group LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $215,000. Turner Investments LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $220,000. Finally, Soros Fund Management LLC acquired a new position in shares of Cirrus Logic during the first quarter valued at approximately $225,000. 89.09% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic, Inc. (NASDAQ:CRUS) traded up 0.1775% during midday trading on Monday, hitting $54.3964. The company had a trading volume of 162,323 shares. The stock has a market cap of $3.47 billion, a PE ratio of 12.7213 and a beta of 0.01. Cirrus Logic, Inc. has a 52-week low of $49.05 and a 52-week high of $71.97. The stock’s 50-day moving average price is $55.43 and its 200-day moving average price is $61.27.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $320.32 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts expect that Cirrus Logic, Inc. will post $4.74 EPS for the current fiscal year.

In other Cirrus Logic news, Director Alan R. Schuele sold 2,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $57.30, for a total value of $114,600.00. Following the completion of the transaction, the director now directly owns 14,165 shares in the company, valued at approximately $811,654.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thurman K. Case sold 8,610 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $57.35, for a total value of $493,783.50. Following the completion of the transaction, the chief financial officer now owns 3,880 shares of the company’s stock, valued at $222,518. The disclosure for this sale can be found here. Insiders have sold a total of 104,666 shares of company stock valued at $5,914,243 over the last 90 days. Insiders own 1.92% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cirrus Logic, Inc. (CRUS) Shares Sold by ZPR Investment Management” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/09/cirrus-logic-inc-crus-shares-sold-by-zpr-investment-management.html.

A number of equities analysts have commented on the company. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, October 3rd. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Canaccord Genuity reissued a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a report on Tuesday, September 19th. Bank of America Corporation assumed coverage on Cirrus Logic in a report on Monday, September 18th. They set an “underperform” rating and a $50.00 target price for the company. Finally, Craig Hallum reissued a “hold” rating on shares of Cirrus Logic in a report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.69.

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 ma

Other institutional investors have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $102,000. ETRADE Capital Management LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $201,000. Private Advisor Group LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $215,000. Turner Investments LLC acquired a new position in shares of Cirrus Logic during the second quarter valued at approximately $220,000. Finally, Soros Fund Management LLC acquired a new position in shares of Cirrus Logic during the first quarter valued at approximately $225,000. 89.09% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic, Inc. (NASDAQ:CRUS) traded up 0.1775% during midday trading on Monday, hitting $54.3964. The company had a trading volume of 162,323 shares. The stock has a market cap of $3.47 billion, a PE ratio of 12.7213 and a beta of 0.01. Cirrus Logic, Inc. has a 52-week low of $49.05 and a 52-week high of $71.97. The stock’s 50-day moving average price is $55.43 and its 200-day moving average price is $61.27.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The firm had revenue of $320.70 million during the quarter, compared to the consensus estimate of $320.32 million. During the same period in the previous year, the firm posted $0.44 EPS. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts expect that Cirrus Logic, Inc. will post $4.74 EPS for the current fiscal year.

In other Cirrus Logic news, Director Alan R. Schuele sold 2,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $57.30, for a total value of $114,600.00. Following the completion of the transaction, the director now directly owns 14,165 shares in the company, valued at approximately $811,654.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Thurman K. Case sold 8,610 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $57.35, for a total value of $493,783.50. Following the completion of the transaction, the chief financial officer now owns 3,880 shares of the company’s stock, valued at $222,518. The disclosure for this sale can be found here. Insiders have sold a total of 104,666 shares of company stock valued at $5,914,243 over the last 90 days. Insiders own 1.92% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Cirrus Logic, Inc. (CRUS) Shares Sold by ZPR Investment Management” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/09/cirrus-logic-inc-crus-shares-sold-by-zpr-investment-management.html.

A number of equities analysts have commented on the company. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Tuesday, October 3rd. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Canaccord Genuity reissued a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a report on Tuesday, September 19th. Bank of America Corporation assumed coverage on Cirrus Logic in a report on Monday, September 18th. They set an “underperform” rating and a $50.00 target price for the company. Finally, Craig Hallum reissued a “hold” rating on shares of Cirrus Logic in a report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $67.69.

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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Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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