HL Financial Services LLC cut its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,869 shares of the semiconductor company’s stock after selling 95 shares during the period. HL Financial Services LLC’s holdings in Cirrus Logic were worth $682,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of Cirrus Logic by 90.6% in the second quarter. Retirement Systems of Alabama now owns 158,039 shares of the semiconductor company’s stock valued at $9,912,000 after buying an additional 75,115 shares in the last quarter. ARP Americas LLC purchased a new position in shares of Cirrus Logic during the second quarter valued at about $288,000. Texas Permanent School Fund increased its position in shares of Cirrus Logic by 1.1% in the second quarter. Texas Permanent School Fund now owns 47,028 shares of the semiconductor company’s stock valued at $2,950,000 after buying an additional 523 shares in the last quarter. World Asset Management Inc increased its position in shares of Cirrus Logic by 2.7% in the second quarter. World Asset Management Inc now owns 4,071 shares of the semiconductor company’s stock valued at $255,000 after buying an additional 106 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its position in shares of Cirrus Logic by 37.4% in the second quarter. Moody Aldrich Partners LLC now owns 5,549 shares of the semiconductor company’s stock valued at $348,000 after buying an additional 1,509 shares in the last quarter. Hedge funds and other institutional investors own 94.23% of the company’s stock.

Cirrus Logic, Inc. (NASDAQ CRUS) opened at 55.13 on Friday. The firm has a 50 day moving average of $62.38 and a 200-day moving average of $61.49. Cirrus Logic, Inc. has a 52-week low of $47.01 and a 52-week high of $71.97. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 12.89 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.15. The firm had revenue of $320.70 million during the quarter, compared to analyst estimates of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 EPS. Equities analysts expect that Cirrus Logic, Inc. will post $4.74 EPS for the current year.

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Several research analysts have recently issued reports on the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $73.00 target price (down previously from $75.00) on shares of Cirrus Logic in a research note on Wednesday. Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price objective for the company in a report on Thursday, August 3rd. BidaskClub cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 2nd. Finally, Barclays PLC cut shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price objective for the company. in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $68.59.

In related news, 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 value of $1,451,752.92. Following the completion of the sale, the vice president now owns 24,432 shares of the company’s stock, valued at approximately $1,578,795.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William D. Sherman sold 1,378 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $61.84, for a total transaction of $85,215.52. Following the completion of the sale, the director now directly owns 7,307 shares of the company’s stock, valued at approximately $451,864.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,719 shares of company stock valued at $6,342,696. Insiders own 1.92% of the company’s stock.

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

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