GSA Capital Partners LLP lessened its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 50.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,227 shares of the semiconductor company’s stock after selling 9,411 shares during the quarter. GSA Capital Partners LLP’s holdings in Cirrus Logic were worth $492,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Cirrus Logic by 72.2% during the third 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 during the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Cirrus Logic by 96.2% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 1,372 shares during the last quarter. ETRADE Capital Management LLC acquired a new stake in shares of Cirrus Logic in the second quarter valued at approximately $201,000. Private Advisor Group LLC acquired a new stake in shares of Cirrus Logic in the second quarter valued at approximately $215,000. Finally, Sheaff Brock Investment Advisors LLC acquired a new stake in shares of Cirrus Logic in the second quarter valued at approximately $248,000. Institutional investors and hedge funds own 89.25% of the company’s stock.
Several brokerages recently weighed in on CRUS. Bank of America began coverage on Cirrus Logic in a research report on Monday, September 18th. They issued an “underperform” rating and a $50.00 price objective for the company. Stifel Nicolaus restated a “buy” rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. KeyCorp reiterated an “overweight” rating on shares of Cirrus Logic in a research note on Thursday, September 14th. Craig Hallum reiterated a “hold” rating on shares of Cirrus Logic in a research note on Wednesday, September 13th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price objective on shares of Cirrus Logic in a research note on Tuesday, September 19th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company. Cirrus Logic has an average rating of “Hold” and an average target price of $65.76.
Cirrus Logic, Inc. (NASDAQ:CRUS) opened at $54.02 on Thursday. The firm has a market capitalization of $3,440.00 and a price-to-earnings ratio of 13.21. Cirrus Logic, Inc. has a twelve month low of $48.61 and a twelve month high of $71.97.
Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.16. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The company had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. During the same period in the previous year, the company earned $1.35 EPS. The business’s quarterly revenue was down .7% compared to the same quarter last year. research analysts expect that Cirrus Logic, Inc. will post 4.21 EPS for the current year.
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About Cirrus Logic
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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