Ifrah Financial Services Inc. acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,078 shares of the semiconductor company’s stock, valued at approximately $217,000.
Other large investors also recently added to or reduced their stakes in the company. Fortaleza Asset Management Inc. bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $102,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Cirrus Logic by 72.2% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock valued at $138,000 after acquiring an additional 1,086 shares in the last quarter. ETRADE Capital Management LLC bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $201,000. Sapphire Star Partners LP bought a new stake in shares of Cirrus Logic in the 3rd quarter valued at $211,000. Finally, Private Advisor Group LLC bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $215,000. Institutional investors own 91.50% of the company’s stock.
In other Cirrus Logic news, Director Christine King sold 5,000 shares of Cirrus Logic stock in a transaction on Monday, October 16th. The shares were sold at an average price of $54.51, for a total transaction of $272,550.00. Following the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at approximately $882,080.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Andrew Brannan sold 21,504 shares of Cirrus Logic stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the transaction, the vice president now directly owns 21,504 shares in the company, valued at $1,184,870.40. The disclosure for this sale can be found here. Insiders have sold a total of 39,367 shares of company stock worth $2,165,905 over the last ninety days. Insiders own 1.92% of the company’s stock.
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Cirrus Logic, Inc. (CRUS) traded down $0.78 on Tuesday, reaching $55.91. 780,600 shares of the company’s stock were exchanged, compared to its average volume of 1,163,923. The stock has a market cap of $3,609.17, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.03 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 posted its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.20 by $0.16. The firm had revenue of $425.50 million for the quarter, compared to the consensus estimate of $410.32 million. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.35 EPS. analysts anticipate that Cirrus Logic, Inc. will post 4.31 earnings per share for the current fiscal year.
CRUS has been the subject of several research analyst reports. Northland Securities reiterated a “buy” rating on shares of Cirrus Logic in a research note on Friday, November 3rd. Stifel Nicolaus reiterated a “buy” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Tuesday, October 3rd. BidaskClub lowered shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Craig Hallum reiterated a “hold” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $67.05.
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.
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