Mutual of America Capital Management LLC increased its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,713 shares of the semiconductor company’s stock after purchasing an additional 1,615 shares during the quarter. Mutual of America Capital Management LLC owned 0.12% of Cirrus Logic worth $4,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CRUS. BlackRock Inc. raised its position 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 worth $423,252,000 after acquiring an additional 6,939,385 shares in the last quarter. UBS Asset Management Americas Inc. raised its position 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 worth $78,855,000 after acquiring an additional 1,272,964 shares in the last quarter. AQR Capital Management LLC raised its position 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 worth $122,292,000 after acquiring an additional 1,024,836 shares in the last quarter. LSV Asset Management raised its position in Cirrus Logic by 27.3% in the second quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock worth $162,935,000 after acquiring an additional 557,048 shares in the last quarter. Finally, Vanguard Group Inc. raised its position 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 worth $428,295,000 after acquiring an additional 502,335 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

Cirrus Logic, Inc. (CRUS) opened at 53.44 on Friday. The stock has a 50 day moving average price of $56.87 and a 200-day moving average price of $61.54. Cirrus Logic, Inc. has a 12 month low of $49.05 and a 12 month high of $71.97. The stock has a market cap of $3.41 billion and a PE ratio of 12.50.

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

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In other news, VP Randolph K. Carlson sold 53,332 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $57.10, for a total transaction of $3,045,257.20. Following the sale, the vice president now directly owns 27,265 shares of the company’s stock, valued at $1,556,831.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine King sold 5,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the sale, the director now directly owns 16,182 shares in the company, valued at $929,170.44. The disclosure for this sale can be found here. Insiders sold a total of 97,313 shares of company stock worth $5,523,018 in the last three months. Company insiders own 1.92% of the company’s stock.

Several research firms have issued reports on CRUS. Canaccord Genuity reiterated a “buy” rating and issued a $76.00 price objective on shares of Cirrus Logic in a research report on Tuesday. ValuEngine cut Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Bank of America Corporation 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. Craig Hallum reiterated a “hold” rating on shares of Cirrus Logic in a research report on Wednesday, September 13th. Finally, KeyCorp reiterated an “overweight” rating on shares of Cirrus Logic in a research report on Thursday, September 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $67.83.

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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