HGK Asset Management Inc. lifted its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 15.9% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 15,811 shares of the semiconductor company’s stock after purchasing an additional 2,166 shares during the quarter. HGK Asset Management Inc.’s holdings in Cirrus Logic were worth $606,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of CRUS. BlackRock Inc. grew its holdings in shares of Cirrus Logic by 11.4% during the 1st quarter. BlackRock Inc. now owns 7,875,410 shares of the semiconductor company’s stock worth $319,978,000 after purchasing an additional 804,774 shares during the period. Letko Brosseau & Associates Inc. boosted its holdings in Cirrus Logic by 58.9% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 628,960 shares of the semiconductor company’s stock worth $24,108,000 after acquiring an additional 233,060 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cirrus Logic by 12.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,932,351 shares of the semiconductor company’s stock worth $78,511,000 after acquiring an additional 219,208 shares during the period. Millennium Management LLC boosted its holdings in Cirrus Logic by 106.9% in the 1st quarter. Millennium Management LLC now owns 253,974 shares of the semiconductor company’s stock worth $10,319,000 after acquiring an additional 131,223 shares during the period. Finally, Seven Eight Capital LP purchased a new position in Cirrus Logic in the 1st quarter worth approximately $4,603,000. Institutional investors and hedge funds own 90.46% of the company’s stock.
A number of equities analysts have weighed in on CRUS shares. Craig Hallum upgraded Cirrus Logic from a “hold” rating to a “buy” rating and decreased their price target for the stock from $44.00 to $43.00 in a report on Monday, April 30th. Zacks Investment Research cut Cirrus Logic from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 25th. ValuEngine cut Cirrus Logic from a “sell” rating to a “strong sell” rating in a report on Saturday, June 2nd. Stifel Nicolaus decreased their price target on Cirrus Logic from $60.00 to $52.00 and set a “buy” rating for the company in a report on Monday, April 23rd. Finally, Bank of America upped their price target on Cirrus Logic from $28.00 to $33.00 and gave the stock an “underperform” rating in a report on Thursday, August 2nd. Four analysts have rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $53.24.
Shares of CRUS opened at $42.87 on Tuesday. Cirrus Logic, Inc. has a 52-week low of $34.78 and a 52-week high of $59.09. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 11.62, a price-to-earnings-growth ratio of 1.46 and a beta of 0.24.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 1st. The semiconductor company reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.36. Cirrus Logic had a return on equity of 17.46% and a net margin of 7.83%. The company had revenue of $254.48 million for the quarter, compared to analyst estimates of $231.38 million. During the same period in the prior year, the company posted $0.81 EPS. Cirrus Logic’s quarterly revenue was down 20.7% on a year-over-year basis. equities research analysts anticipate that Cirrus Logic, Inc. will post 2.66 earnings per share for the current year.
Cirrus Logic 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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