Cirrus Logic, Inc. (CRUS) Stake Held by Origin Asset Management LLP
Origin Asset Management LLP continued to hold its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 322,847 shares of the semiconductor company’s stock at the close of the 2nd quarter. Origin Asset Management LLP owned about 0.50% of Cirrus Logic worth $20,249,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Fortaleza Asset Management Inc. acquired a new stake in Cirrus Logic during the 2nd quarter worth about $102,000. Mckinley Capital Management LLC Delaware acquired a new stake in Cirrus Logic during the 1st quarter worth about $174,000. Private Advisor Group LLC acquired a new stake in Cirrus Logic during the 2nd quarter worth about $215,000. Turner Investments LLC acquired a new stake in Cirrus Logic during the 2nd quarter worth about $220,000. Finally, Soros Fund Management LLC acquired a new stake in Cirrus Logic during the 1st quarter worth about $225,000. 89.15% of the stock is owned by institutional investors.
A number of analysts have commented on CRUS shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $75.00 price target on shares of Cirrus Logic in a research report on Thursday, August 3rd. BidaskClub cut Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Monday, August 7th. Needham & Company LLC reaffirmed 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. Finally, KeyCorp reaffirmed an “overweight” rating and set a $75.00 price target on shares of Cirrus Logic in a research report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $68.59.
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Shares of Cirrus Logic, Inc. (NASDAQ CRUS) traded down 0.47% during trading on Wednesday, hitting $56.74. The stock had a trading volume of 208,771 shares. Cirrus Logic, Inc. has a 12-month low of $48.91 and a 12-month high of $71.97. The stock has a market cap of $3.62 billion and a price-to-earnings ratio of 13.27. The stock’s 50-day moving average is $57.94 and its 200-day moving average is $61.44.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, topping the 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 business 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 earned $0.44 earnings per share. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts expect that Cirrus Logic, Inc. will post $4.74 EPS for the current year.
In other news, Director Alan R. Schuele sold 2,000 shares of the stock in a transaction dated 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 sale, the director now owns 14,165 shares in the company, valued at $811,654.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William D. Sherman sold 1,378 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $61.84, for a total transaction of $85,215.52. Following the sale, the director now owns 7,307 shares of the company’s stock, valued at approximately $451,864.88. The disclosure for this sale can be found here. Insiders have sold 92,313 shares of company stock valued at $5,235,918 in the last quarter. Insiders own 1.92% of the company’s stock.
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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