New Amsterdam Partners LLC NY increased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,081 shares of the semiconductor company’s stock after buying an additional 11,271 shares during the period. Cirrus Logic makes up 2.3% of New Amsterdam Partners LLC NY’s portfolio, making the stock its 5th largest position. New Amsterdam Partners LLC NY’s holdings in Cirrus Logic were worth $10,918,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. raised 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. LSV Asset Management raised 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. UBS Asset Management Americas Inc. raised its stake in Cirrus Logic by 4,831.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,299,314 shares of the semiconductor company’s stock valued at $78,855,000 after buying an additional 1,272,964 shares during the period. AQR Capital Management LLC raised 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. Finally, Old Mutual Global Investors UK Ltd. raised its stake in Cirrus Logic by 1,806.8% in the first quarter. Old Mutual Global Investors UK Ltd. now owns 541,359 shares of the semiconductor company’s stock valued at $32,855,000 after buying an additional 512,968 shares during the period. 94.23% of the stock is currently owned by institutional investors.

Shares of Cirrus Logic, Inc. (NASDAQ CRUS) opened at 55.13 on Friday. The company has a 50-day moving average price of $62.38 and a 200 day moving average price of $61.49. Cirrus Logic, Inc. has a 1-year low of $47.01 and a 1-year high of $71.97. The firm 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 quarterly earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.15. The business had revenue of $320.70 million for the quarter, compared to analysts’ expectations of $320.32 million. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The business’s quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that Cirrus Logic, Inc. will post $4.74 EPS for the current year.

TRADEMARK VIOLATION WARNING: “New Amsterdam Partners LLC NY Raises Stake in Cirrus Logic, Inc. (CRUS)” was reported by Daily Political and is owned by of Daily Political. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.dailypolitical.com/2017/08/12/new-amsterdam-partners-llc-ny-raises-stake-in-cirrus-logic-inc-crus.html.

Several analysts have recently issued reports on CRUS shares. Barclays PLC lowered Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 target price on the stock. in a report on Tuesday, July 18th. Needham & Company LLC reissued a “buy” rating and set a $70.00 target price on shares of Cirrus Logic in a report on Friday, April 14th. Vetr lowered Cirrus Logic from a “strong-buy” rating to a “buy” rating and set a $70.00 target price on the stock. in a report on Tuesday, April 18th. Pacific Crest reissued an “overweight” rating and set a $75.00 target price on shares of Cirrus Logic in a report on Wednesday, June 21st. Finally, Dougherty & Co increased their target price on Cirrus Logic from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, May 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Cirrus Logic has a consensus rating of “Buy” and a consensus price target of $68.59.

In other Cirrus Logic news, VP Scott Arnold Anderson sold 22,466 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $64.62, for a total transaction of $1,451,752.92. Following the sale, the vice president now directly owns 24,432 shares of the company’s stock, valued at $1,578,795.84. The transaction 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 firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $61.84, for a total value of $85,215.52. Following the sale, the director now directly owns 7,307 shares in the company, valued at $451,864.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,719 shares of company stock worth $6,342,696. Insiders own 1.92% of the company’s stock.

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.

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic, Inc. (NASDAQ:CRUS).

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

Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with MarketBeat.com's FREE daily email newsletter.