Pacer Advisors Inc. raised its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 18.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,517 shares of the semiconductor company’s stock after acquiring an additional 1,332 shares during the quarter. Pacer Advisors Inc.’s holdings in Cirrus Logic were worth $454,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the business. Hanseatic Management Services Inc. raised its holdings in shares of Cirrus Logic by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 29,468 shares of the semiconductor company’s stock valued at $1,848,000 after acquiring an additional 75 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Cirrus Logic by 1.5% during the second quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after acquiring an additional 76 shares during the last quarter. World Asset Management Inc raised its holdings in shares of Cirrus Logic by 2.7% during the second quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after acquiring an additional 106 shares during the last quarter. Suntrust Banks Inc. raised its holdings in shares of Cirrus Logic by 2.5% during the second quarter. Suntrust Banks Inc. now owns 12,253 shares of the semiconductor company’s stock valued at $767,000 after acquiring an additional 298 shares during the last quarter. Finally, Spectrum Management Group Inc. raised its holdings in shares of Cirrus Logic by 3.2% during the second quarter. Spectrum Management Group Inc. now owns 12,910 shares of the semiconductor company’s stock valued at $810,000 after acquiring an additional 400 shares during the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.
Shares of Cirrus Logic, Inc. (NASDAQ CRUS) opened at $53.16 on Friday. The stock has a market capitalization of $3,516.86, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.01. Cirrus Logic, Inc. has a one year low of $49.62 and a one year high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.16. The company had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. research analysts anticipate that Cirrus Logic, Inc. will post 4.21 earnings per share for the current fiscal year.
CRUS has been the subject of a number of research analyst reports. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a report on Monday, August 7th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $73.00 price target (down previously from $75.00) on shares of Cirrus Logic in a report on Wednesday, August 9th. KeyCorp reaffirmed an “overweight” rating on shares of Cirrus Logic in a report on Thursday, September 14th. Craig Hallum reaffirmed a “hold” rating on shares of Cirrus Logic in a report on Wednesday, September 13th. Finally, Bank of America began coverage on Cirrus Logic in a report on Monday, September 18th. They issued an “underperform” rating and a $50.00 price target for the company. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.05.
In other Cirrus Logic news, Director Christine King sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $54.14, for a total transaction of $270,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Bradley J. Fluke sold 7,325 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total value of $391,448.00. Following the sale, the vice president now directly owns 12,000 shares of the company’s stock, valued at approximately $641,280. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,863 shares of company stock valued at $1,251,735. 1.92% of the stock is owned by insiders.
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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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