Meeder Asset Management Inc. increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 19.1% during the second quarter, Holdings Channel reports. The fund owned 4,087 shares of the semiconductor company’s stock after buying an additional 654 shares during the period. Meeder Asset Management Inc.’s holdings in Cirrus Logic were worth $256,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Cirrus Logic by 7.7% in the first quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock valued at $428,295,000 after buying an additional 502,335 shares during the period. BlackRock Inc. boosted its stake in Cirrus Logic by 20,057.8% in the first quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock valued at $423,252,000 after buying an additional 6,939,385 shares during the period. State Street Corp boosted its stake in Cirrus Logic by 5.8% in the first quarter. State Street Corp now owns 2,226,243 shares of the semiconductor company’s stock valued at $135,107,000 after buying an additional 122,309 shares during the period. LSV Asset Management boosted its stake in Cirrus Logic by 1,368.2% in the first quarter. LSV Asset Management now owns 2,040,779 shares of the semiconductor company’s stock valued at $123,854,000 after buying an additional 1,901,779 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Cirrus Logic by 103.5% in the first quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock valued at $122,292,000 after buying an additional 1,024,836 shares during the period. 94.91% of the stock is owned by institutional investors.

Cirrus Logic, Inc. (NASDAQ:CRUS) opened at 63.34 on Friday. The firm has a market cap of $4.05 billion, a PE ratio of 16.16 and a beta of 0.03. Cirrus Logic, Inc. has a one year low of $39.26 and a one year high of $71.97. The company has a 50-day moving average price of $64.97 and a 200-day moving average price of $61.15.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 3rd. The semiconductor company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.14. Cirrus Logic had a net margin of 16.31% and a return on equity of 26.32%. The company had revenue of $327.86 million for the quarter, compared to the consensus estimate of $320.94 million. During the same period in the previous year, the business earned $0.38 EPS. The company’s revenue was up 41.3% on a year-over-year basis. Equities analysts predict that Cirrus Logic, Inc. will post $4.56 earnings per share for the current fiscal year.

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CRUS has been the topic of several analyst reports. Pacific Crest upgraded Cirrus Logic from a “sector weight” rating to an “overweight” rating and set a $75.00 price objective on the stock in a report on Tuesday, April 4th. Needham & Company LLC restated a “buy” rating and set a $70.00 price objective on shares of Cirrus Logic in a report on Friday, April 14th. Vetr cut Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 price objective on the stock. in a report on Tuesday, April 18th. Dougherty & Co raised their price objective on Cirrus Logic from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. Finally, Stifel Nicolaus raised their price objective on Cirrus Logic from $70.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, May 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $68.77.

In other news, VP Bradley J. Fluke sold 19,459 shares of the business’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $64.48, for a total transaction of $1,254,716.32. Following the transaction, the vice president now directly owns 15,063 shares in the company, valued at approximately $971,262.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Scott Arnold Anderson sold 22,466 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $64.62, for a total transaction of $1,451,752.92. Following the transaction, the vice president now owns 24,432 shares in the company, valued at $1,578,795.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,853 shares of company stock worth $6,197,708. 1.92% of the stock is currently owned by corporate insiders.

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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