BRYN MAWR TRUST Co boosted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 127,095 shares of the semiconductor company’s stock after acquiring an additional 3,365 shares during the period. BRYN MAWR TRUST Co owned 0.20% of Cirrus Logic worth $6,592,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in CRUS. Raymond James Financial Services Advisors Inc. acquired a new position in Cirrus Logic during the 3rd quarter worth $322,000. American Century Companies Inc. lifted its position in Cirrus Logic by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 145,316 shares of the semiconductor company’s stock worth $7,748,000 after acquiring an additional 13,021 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Cirrus Logic by 4.4% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 33,773 shares of the semiconductor company’s stock worth $1,801,000 after acquiring an additional 1,418 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cirrus Logic during the 3rd quarter worth $561,000. Finally, Rhumbline Advisers lifted its position in Cirrus Logic by 14.8% during the 3rd quarter. Rhumbline Advisers now owns 151,425 shares of the semiconductor company’s stock worth $8,074,000 after acquiring an additional 19,476 shares during the last quarter. 91.49% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on CRUS. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Friday, January 19th. Zacks Investment Research lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Friday, January 12th. ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. Vetr lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating and set a $49.82 target price for the company. in a research report on Monday, December 18th. Finally, Stifel Nicolaus cut their target price on shares of Cirrus Logic from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Five investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. Cirrus Logic currently has a consensus rating of “Hold” and an average target price of $60.22.
CRUS stock opened at $43.45 on Wednesday. The company has a market cap of $2,838.18, a PE ratio of 15.63, a PEG ratio of 1.30 and a beta of 0.11. Cirrus Logic, Inc. has a 52-week low of $39.51 and a 52-week high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 EPS for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.19). The company had revenue of $482.70 million for the quarter, compared to analyst estimates of $530.99 million. Cirrus Logic had a net margin of 11.89% and a return on equity of 22.60%. The firm’s quarterly revenue was down 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.87 EPS. equities research analysts predict that Cirrus Logic, Inc. will post 3.78 earnings per share for the current fiscal year.
Cirrus Logic declared that its Board of Directors has approved a share buyback plan on Monday, February 5th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
In other news, VP Randolph K. Carlson sold 7,265 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $42.03, for a total transaction of $305,347.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,888 shares of company stock valued at $335,162 in the last ninety days. 1.92% of the stock is owned by company insiders.
Cirrus Logic Company 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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