Columbia Partners L L C Investment Management lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,286 shares of the semiconductor company’s stock after selling 13,446 shares during the period. Columbia Partners L L C Investment Management owned about 0.09% of Cirrus Logic worth $3,001,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRUS. Capstone Asset Management Co. raised its holdings in Cirrus Logic by 3.3% during the 2nd quarter. Capstone Asset Management Co. now owns 8,559 shares of the semiconductor company’s stock worth $537,000 after buying an additional 270 shares during the period. Meeder Asset Management Inc. raised its holdings in Cirrus Logic by 19.1% during the 2nd quarter. Meeder Asset Management Inc. now owns 4,087 shares of the semiconductor company’s stock worth $256,000 after buying an additional 654 shares during the period. James Investment Research Inc. acquired a new stake in Cirrus Logic during the 2nd quarter worth about $1,342,000. Eqis Capital Management Inc. raised its holdings in Cirrus Logic by 15.2% during the 2nd quarter. Eqis Capital Management Inc. now owns 6,494 shares of the semiconductor company’s stock worth $407,000 after buying an additional 857 shares during the period. Finally, Oregon Public Employees Retirement Fund raised its holdings in Cirrus Logic by 4.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 23,296 shares of the semiconductor company’s stock worth $1,461,000 after buying an additional 1,013 shares during the period. Hedge funds and other institutional investors own 91.50% of the company’s stock.

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In other Cirrus Logic news, Director Christine King sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total transaction of $287,100.00. Following the completion of the sale, the director now owns 16,182 shares of the company’s stock, valued at $929,170.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrew Brannan sold 21,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total value of $1,184,870.40. Following the sale, the vice president now directly owns 21,504 shares of the company’s stock, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. In the last three months, insiders sold 39,367 shares of company stock valued at $2,165,905. 1.92% of the stock is currently owned by company insiders.

Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) traded up $0.48 during midday trading on Friday, hitting $55.26. The company had a trading volume of 754,400 shares, compared to its average volume of 1,159,412. The company has a market cap of $3,550.00, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.41 and a beta of 0.05. Cirrus Logic, Inc. has a 1-year low of $49.05 and a 1-year high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.16. The business 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 in the previous year, the business posted $1.35 EPS. analysts expect that Cirrus Logic, Inc. will post 4.28 EPS for the current fiscal year.

Several research firms have issued reports on CRUS. Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Canaccord Genuity restated a “buy” rating and set a $76.00 price objective on shares of Cirrus Logic in a report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of Cirrus Logic in a report on Friday, November 3rd. Finally, Craig Hallum restated a “hold” rating and set a $54.00 price objective (down previously from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $67.05.

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

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