Polianta Ltd Grows Holdings in Cirrus Logic, Inc. (CRUS)
Polianta Ltd grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 30.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,400 shares of the semiconductor company’s stock after buying an additional 5,500 shares during the period. Polianta Ltd’s holdings in Cirrus Logic were worth $1,213,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the business. State Street Corp boosted its stake in shares of Cirrus Logic by 2.2% in the 2nd quarter. State Street Corp now owns 2,274,959 shares of the semiconductor company’s stock valued at $142,688,000 after purchasing an additional 48,716 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Cirrus Logic by 9.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,637,193 shares of the semiconductor company’s stock valued at $87,293,000 after purchasing an additional 140,460 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Cirrus Logic by 3.4% in the 2nd quarter. Northern Trust Corp now owns 1,212,478 shares of the semiconductor company’s stock valued at $76,047,000 after purchasing an additional 40,264 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of Cirrus Logic by 69.6% in the 3rd quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock valued at $51,562,000 after purchasing an additional 396,890 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its stake in shares of Cirrus Logic by 187.2% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 870,484 shares of the semiconductor company’s stock valued at $46,414,000 after purchasing an additional 567,354 shares in the last quarter. 89.25% of the stock is owned by institutional investors and hedge funds.
Shares of Cirrus Logic, Inc. (NASDAQ:CRUS) traded down $0.45 during midday trading on Tuesday, reaching $53.27. 219,381 shares of the company’s stock traded hands, compared to its average volume of 782,980. Cirrus Logic, Inc. has a 1-year low of $48.61 and a 1-year high of $71.97. The company has a market cap of $3,400.00 and a price-to-earnings ratio of 13.02.
Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, topping 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 business had revenue of $425.50 million during the quarter, compared to analyst estimates of $410.32 million. During the same period in the prior year, the business earned $1.35 EPS. The company’s revenue for the quarter was down .7% on a year-over-year basis. analysts predict that Cirrus Logic, Inc. will post 4.21 earnings per share for the current fiscal year.
In other Cirrus Logic news, Director Christine King sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $54.14, for a total value of $270,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 11,123 shares of company stock valued at $601,268 over the last 90 days. Company insiders own 1.92% of the company’s stock.
A number of equities research analysts recently commented on CRUS shares. Bank of America started coverage on shares of Cirrus Logic in a report on Monday, September 18th. They set an “underperform” rating and a $50.00 price target for the company. ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Canaccord Genuity reiterated a “buy” rating and set a $76.00 price target on shares of Cirrus Logic in a report on Tuesday, September 19th. Craig Hallum reiterated a “hold” rating and set a $54.00 price target (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Four analysts have rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $65.76.
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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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