First Hawaiian Bank acquired a new stake in Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, HoldingsChannel reports. The fund acquired 3,638 shares of the semiconductor company’s stock, valued at approximately $140,000.

Other large investors have also recently bought and sold shares of the company. grace capital bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $115,000. Bank of Montreal Can boosted its stake in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after purchasing an additional 1,593 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of Cirrus Logic by 91.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 3,723 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 1,782 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $216,000. Finally, Hikari Power Ltd bought a new stake in shares of Cirrus Logic in the 2nd quarter valued at $250,000. 88.60% of the stock is currently owned by institutional investors.

In related news, Director Timothy R. Dehne sold 4,171 shares of the stock in a transaction on Sunday, August 26th. The shares were sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.32% of the stock is owned by corporate insiders.

CRUS has been the topic of a number of analyst reports. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research note on Thursday, July 12th. ValuEngine lowered shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Craig Hallum reaffirmed a “buy” rating and issued a $47.00 price objective (down from $51.00) on shares of Cirrus Logic in a research note on Friday. Bank of America upped their price objective on shares of Cirrus Logic from $28.00 to $33.00 and gave the company an “underperform” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research note on Tuesday, August 7th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. Cirrus Logic presently has a consensus rating of “Hold” and an average target price of $47.88.

Shares of NASDAQ CRUS opened at $41.50 on Friday. The firm has a market cap of $2.53 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.04 and a beta of 0.45. Cirrus Logic, Inc. has a 12-month low of $34.49 and a 12-month high of $58.80.

Cirrus Logic (NASDAQ:CRUS) last issued its earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.34. The business had revenue of $366.30 million for the quarter, compared to analyst estimates of $330.27 million. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.47%. Cirrus Logic’s revenue was down 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.36 earnings per share. On average, analysts predict that Cirrus Logic, Inc. will post 2.66 EPS for the current year.

Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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

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