Candriam Luxembourg S.C.A. acquired a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) in the 4th quarter, Holdings Channel reports. The fund acquired 13,000 shares of the semiconductor company’s stock, valued at approximately $431,000.
Other large investors also recently modified their holdings of the company. Pearl River Capital LLC purchased a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $32,000. Huntington National Bank purchased a new stake in shares of Cirrus Logic during the 4th quarter worth approximately $68,000. Advisor Group Inc. lifted its position in shares of Cirrus Logic by 71.8% during the 4th quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock worth $71,000 after buying an additional 905 shares during the last quarter. Strs Ohio lifted its position in shares of Cirrus Logic by 316.7% during the 4th quarter. Strs Ohio now owns 2,500 shares of the semiconductor company’s stock worth $82,000 after buying an additional 1,900 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Cirrus Logic by 85.5% during the 4th quarter. Captrust Financial Advisors now owns 2,641 shares of the semiconductor company’s stock worth $88,000 after buying an additional 1,217 shares during the last quarter. Institutional investors and hedge funds own 89.38% of the company’s stock.
In related news, VP Randolph K. Carlson sold 10,848 shares of the company’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $37.43, for a total value of $406,040.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy R. Dehne sold 3,056 shares of the company’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $38.72, for a total transaction of $118,328.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,870 shares of company stock valued at $799,247. 2.32% of the stock is owned by insiders.
Several analysts have recently weighed in on the stock. BidaskClub downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Tuesday, December 4th. Zacks Investment Research downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Monday, February 4th. ValuEngine downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Friday, January 4th. Bank of America set a $29.00 price objective on shares of Cirrus Logic and gave the stock a “sell” rating in a research report on Tuesday, December 4th. Finally, MKM Partners reduced their price objective on shares of Cirrus Logic to $45.00 and set a “buy” rating for the company in a research report on Tuesday, December 4th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Cirrus Logic currently has an average rating of “Hold” and a consensus target price of $42.13.
CRUS stock opened at $41.62 on Friday. Cirrus Logic, Inc. has a 12 month low of $31.25 and a 12 month high of $45.39. The firm has a market capitalization of $2.47 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 1.62 and a beta of 0.60.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.78 by $0.13. Cirrus Logic had a net margin of 7.68% and a return on equity of 11.88%. The firm had revenue of $324.30 million during the quarter, compared to the consensus estimate of $319.37 million. During the same quarter in the prior year, the firm earned $1.59 EPS. Cirrus Logic’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, equities analysts forecast that Cirrus Logic, Inc. will post 1.72 earnings per share for the current year.
Cirrus Logic announced that its board has approved a stock repurchase plan on Wednesday, January 30th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire up to 8.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.
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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