American Century Companies Inc. cut its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 10.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 132,295 shares of the semiconductor company’s stock after selling 15,743 shares during the quarter. American Century Companies Inc. owned 0.21% of Cirrus Logic worth $8,298,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of CRUS. BlackRock Inc. raised its holdings in Cirrus Logic by 20,057.8% during the first quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock worth $423,252,000 after purchasing an additional 6,939,385 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Cirrus Logic by 4,831.0% during the first quarter. UBS Asset Management Americas Inc. now owns 1,299,314 shares of the semiconductor company’s stock worth $78,855,000 after purchasing an additional 1,272,964 shares during the last quarter. AQR Capital Management LLC raised its holdings in Cirrus Logic by 103.5% during the first quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock worth $122,292,000 after purchasing an additional 1,024,836 shares during the last quarter. Vanguard Group Inc. raised its holdings in Cirrus Logic by 7.7% during the first quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock worth $428,295,000 after purchasing an additional 502,335 shares during the last quarter. Finally, Gotham Asset Management LLC raised its holdings in Cirrus Logic by 6,762.1% during the first quarter. Gotham Asset Management LLC now owns 379,129 shares of the semiconductor company’s stock worth $23,009,000 after purchasing an additional 373,604 shares during the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

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In related news, VP Randolph K. Carlson sold 53,332 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $57.10, for a total value of $3,045,257.20. Following the completion of the transaction, the vice president now owns 27,265 shares of the company’s stock, valued at approximately $1,556,831.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Alan R. Schuele sold 2,000 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $57.30, for a total transaction of $114,600.00. Following the completion of the transaction, the director now directly owns 14,165 shares of the company’s stock, valued at approximately $811,654.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,313 shares of company stock valued at $5,235,918. 1.92% of the stock is currently owned by insiders.

Cirrus Logic, Inc. (CRUS) opened at 56.93 on Thursday. Cirrus Logic, Inc. has a 52 week low of $47.01 and a 52 week high of $71.97. The firm has a market cap of $3.63 billion and a PE ratio of 13.31. The firm’s 50 day moving average price is $58.54 and its 200-day moving average price is $61.41.

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

Several equities analysts recently issued reports on CRUS shares. Barclays PLC cut Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a report on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $80.00 price target (up previously from $70.00) on shares of Cirrus Logic in a research report on Thursday, June 1st. Vetr raised Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price target for the company in a research report on Thursday, August 3rd. Pacific Crest reissued an “overweight” rating and set a $75.00 price target on shares of Cirrus Logic in a research report on Wednesday, June 21st. Finally, BidaskClub downgraded Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cirrus Logic presently has a consensus rating of “Buy” and an average price target of $68.59.

About Cirrus Logic

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.

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

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