Quantbot Technologies LP acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 19,822 shares of the semiconductor company’s stock, valued at approximately $1,056,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in Cirrus Logic by 23.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 213,911 shares of the semiconductor company’s stock worth $11,406,000 after acquiring an additional 40,829 shares during the period. Kiwi Wealth Investments Limited Partnership raised its stake in shares of Cirrus Logic by 40.1% during the 3rd quarter. Kiwi Wealth Investments Limited Partnership now owns 40,677 shares of the semiconductor company’s stock worth $2,169,000 after purchasing an additional 11,633 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Cirrus Logic by 9.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,637,193 shares of the semiconductor company’s stock worth $87,293,000 after purchasing an additional 140,460 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Cirrus Logic by 96.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock worth $157,000 after purchasing an additional 1,372 shares in the last quarter. Finally, Ifrah Financial Services Inc. purchased a new stake in shares of Cirrus Logic during the 3rd quarter worth about $217,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Shares of Cirrus Logic, Inc. (CRUS) traded up $0.45 during trading hours on Tuesday, hitting $56.22. The stock had a trading volume of 555,200 shares, compared to its average volume of 1,154,078. Cirrus Logic, Inc. has a one year low of $49.05 and a one year high of $71.97. The firm has a market cap of $3,600.00, a price-to-earnings ratio of 12.73, a PEG ratio of 1.45 and a beta of 0.05.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a return on equity of 25.37% and a net margin of 17.11%. The company had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. During the same quarter last year, the firm earned $1.35 EPS. Cirrus Logic’s revenue for the quarter was down .7% compared to the same quarter last year. sell-side analysts anticipate that Cirrus Logic, Inc. will post 4.24 EPS for the current fiscal year.

In related news, Director Christine King sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the sale, the director now owns 16,182 shares of the company’s stock, valued at approximately $929,170.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Bradley J. Fluke sold 7,325 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $53.44, for a total value of $391,448.00. Following the completion of the sale, the vice president now directly owns 12,000 shares in the company, valued at approximately $641,280. The disclosure for this sale can be found here. Insiders have sold a total of 44,367 shares of company stock worth $2,436,605 in the last three months. 1.92% of the stock is owned by insiders.

A number of research firms have recently weighed in on CRUS. Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price target (down from $75.00) on shares of Cirrus Logic in a research note on Wednesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Cirrus Logic in a research note on Friday, November 3rd. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Northland Securities reaffirmed a “buy” rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Cirrus Logic presently has an average rating of “Buy” and an average price target of $67.05.

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Cirrus Logic 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)

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