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.

TRADEMARK VIOLATION WARNING: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and republished in violation of United States & international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/09/13/cirrus-logic-inc-crus-stake-held-by-origin-asset-management-llp.html.

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.

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

Receive News & Stock Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related stocks with our FREE daily email newsletter.