Dynamic Technology Lab Private Ltd purchased a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,134 shares of the semiconductor company’s stock, valued at approximately $290,000.
Several other institutional investors have also bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. purchased a new stake in Cirrus Logic during the fourth quarter worth $100,000. Victory Capital Management Inc. purchased a new stake in Cirrus Logic during the first quarter worth $245,000. Kendall Capital Management purchased a new stake in Cirrus Logic during the fourth quarter worth $256,000. O Shaughnessy Asset Management LLC boosted its position in Cirrus Logic by 66.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 6,448 shares of the semiconductor company’s stock worth $262,000 after purchasing an additional 2,566 shares in the last quarter. Finally, Xact Kapitalforvaltning AB purchased a new stake in Cirrus Logic during the fourth quarter worth $285,000. Hedge funds and other institutional investors own 91.06% of the company’s stock.
Shares of NASDAQ:CRUS opened at $40.09 on Friday. Cirrus Logic, Inc. has a 52-week low of $34.78 and a 52-week high of $66.87. The firm has a market capitalization of $2.45 billion, a PE ratio of 10.86, a P/E/G ratio of 1.41 and a beta of 0.26.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Wednesday, May 2nd. The semiconductor company reported $0.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.07). Cirrus Logic had a net margin of 10.57% and a return on equity of 20.50%. The company had revenue of $303.20 million during the quarter, compared to analysts’ expectations of $316.57 million. During the same quarter in the prior year, the company earned $0.85 earnings per share. The firm’s revenue was down 7.5% compared to the same quarter last year. sell-side analysts anticipate that Cirrus Logic, Inc. will post 2.58 EPS for the current fiscal year.
A number of research firms have commented on CRUS. Barclays decreased their target price on Cirrus Logic from $36.00 to $32.00 and set an “underweight” rating on the stock in a research report on Thursday, May 3rd. Zacks Investment Research downgraded Cirrus Logic from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 25th. BidaskClub upgraded Cirrus Logic from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Cowen began coverage on Cirrus Logic in a research report on Thursday, May 17th. They set a “market perform” rating and a $40.00 target price on the stock. Finally, Stifel Nicolaus decreased their target price on Cirrus Logic from $60.00 to $52.00 and set a “buy” rating on the stock in a research report on Monday, April 23rd. Five research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $55.40.
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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