Capital Fund Management S.A. Sells 4,403 Shares of Cirrus Logic, Inc. (CRUS)
Capital Fund Management S.A. reduced its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 5.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,012 shares of the semiconductor company’s stock after selling 4,403 shares during the period. Capital Fund Management S.A. owned approximately 0.13% of Cirrus Logic worth $5,081,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Cirrus Logic by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock worth $428,295,000 after buying an additional 502,335 shares in the last quarter. BlackRock Inc. grew its stake in shares of Cirrus Logic by 20,057.8% in the 1st quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock worth $423,252,000 after buying an additional 6,939,385 shares in the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 27.3% in the 2nd quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock worth $162,935,000 after buying an additional 557,048 shares in the last quarter. State Street Corp grew its stake in shares of Cirrus Logic by 5.8% in the 1st quarter. State Street Corp now owns 2,226,243 shares of the semiconductor company’s stock worth $135,107,000 after buying an additional 122,309 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Cirrus Logic by 103.5% in the 1st quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock worth $122,292,000 after buying an additional 1,024,836 shares in the last quarter. 89.15% of the stock is owned by institutional investors and hedge funds.
In other Cirrus Logic news, VP Andrew Brannan sold 21,504 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the completion of the transaction, the vice president now owns 21,504 shares of the company’s stock, valued at $1,184,870.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thurman K. Case sold 8,610 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $57.35, for a total transaction of $493,783.50. Following the transaction, the chief financial officer now directly owns 3,880 shares of the company’s stock, valued at approximately $222,518. 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.
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Cirrus Logic, Inc. (CRUS) opened at 57.33 on Tuesday. The stock has a market capitalization of $3.66 billion and a PE ratio of 13.41. The company’s 50 day moving average is $57.95 and its 200-day moving average is $61.47. Cirrus Logic, Inc. has a 1-year low of $48.91 and a 1-year high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $320.70 million during the quarter, compared to analysts’ expectations of $320.32 million. During the same period last year, the business earned $0.44 earnings per share. Cirrus Logic’s revenue was up 23.6% compared to the same quarter last year. Analysts forecast that Cirrus Logic, Inc. will post $4.74 earnings per share for the current fiscal year.
A number of equities analysts have commented on CRUS shares. Stifel Nicolaus lifted their price objective on shares of Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $80.00 price objective (up from $70.00) on shares of Cirrus Logic in a research note on Thursday, June 1st. Pacific Crest reissued an “overweight” rating and issued a $75.00 price objective on shares of Cirrus Logic in a research note on Wednesday, June 21st. KeyCorp reissued an “overweight” rating and issued a $75.00 price objective on shares of Cirrus Logic in a research note on Wednesday, July 12th. Finally, Barclays PLC cut shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $68.59.
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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