Aperio Group LLC lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 14.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,812 shares of the semiconductor company’s stock after selling 2,908 shares during the period. Aperio Group LLC’s holdings in Cirrus Logic were worth $896,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the company. Hanseatic Management Services Inc. boosted its stake in shares of Cirrus Logic by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 29,468 shares of the semiconductor company’s stock valued at $1,848,000 after purchasing an additional 75 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Cirrus Logic by 1.5% in the 2nd quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after purchasing an additional 76 shares in the last quarter. World Asset Management Inc boosted its stake in shares of Cirrus Logic by 2.7% in the 2nd quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after purchasing an additional 106 shares in the last quarter. Capstone Asset Management Co. boosted its stake in shares of Cirrus Logic by 3.3% in the 2nd quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock valued at $537,000 after purchasing an additional 270 shares in the last quarter. Finally, Suntrust Banks Inc. boosted its stake in shares of Cirrus Logic by 2.5% in the 2nd quarter. Suntrust Banks Inc. now owns 12,253 shares of the semiconductor company’s stock valued at $767,000 after purchasing an additional 298 shares in the last quarter. 89.26% of the stock is owned by institutional investors.
Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) traded down $0.69 during midday trading on Wednesday, reaching $49.71. 1,060,845 shares of the company’s stock traded hands, compared to its average volume of 1,147,718. Cirrus Logic, Inc. has a 1-year low of $48.61 and a 1-year high of $71.97. The company has a market cap of $3,255.20, a price-to-earnings ratio of 11.67, a PEG ratio of 1.34 and a beta of 0.01.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The business had revenue of $425.50 million during the quarter, compared to analyst estimates of $410.32 million. During the same period in the prior year, the business earned $1.35 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. analysts predict that Cirrus Logic, Inc. will post 4.21 earnings per share for the current fiscal year.
A number of brokerages have recently issued reports on CRUS. Bank of America began coverage on shares of Cirrus Logic in a research note on Monday, September 18th. They issued an “underperform” rating and a $50.00 price objective for the company. BidaskClub cut shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. Canaccord Genuity reissued a “buy” rating and set a $76.00 price target on shares of Cirrus Logic in a research report on Tuesday, September 19th. Finally, Craig Hallum reissued a “hold” rating and set a $54.00 price target (down previously from $63.00) on shares of Cirrus Logic in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $67.05.
In related news, Director Christine King sold 5,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $57.42, for a total value of $287,100.00. Following the completion of the transaction, the director now directly owns 16,182 shares in the company, valued at approximately $929,170.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $53.44, for a total transaction of $391,448.00. Following the completion of the transaction, the vice president now owns 12,000 shares of the company’s stock, valued at $641,280. The disclosure for this sale can be found here. Insiders sold a total of 22,881 shares of company stock valued at $1,251,772 over the last 90 days. Company insiders own 1.92% of the company’s stock.
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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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