Advisory Services Network LLC decreased its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 27.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 825 shares of the semiconductor company’s stock after selling 310 shares during the quarter. Advisory Services Network LLC’s holdings in Cirrus Logic were worth $35,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CRUS. Investors Research Corp acquired a new stake in shares of Cirrus Logic during the first quarter worth $25,000. Quadrant Capital Group LLC grew its stake in Cirrus Logic by 596.7% in the first quarter. Quadrant Capital Group LLC now owns 641 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 549 shares during the period. Advisor Group Inc. grew its stake in Cirrus Logic by 71.8% in the fourth quarter. Advisor Group Inc. now owns 2,166 shares of the semiconductor company’s stock valued at $71,000 after acquiring an additional 905 shares during the period. Captrust Financial Advisors grew its stake in Cirrus Logic by 85.5% in the fourth quarter. Captrust Financial Advisors now owns 2,641 shares of the semiconductor company’s stock valued at $88,000 after acquiring an additional 1,217 shares during the period. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Cirrus Logic in the fourth quarter valued at about $95,000. Hedge funds and other institutional investors own 84.62% of the company’s stock.
Several research firms have recently weighed in on CRUS. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub cut Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Cowen reaffirmed a “hold” rating on shares of PTC Therapeutics in a research report on Thursday, May 2nd. Finally, MKM Partners upped their price objective on Radian Group to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $45.00.
NASDAQ:CRUS traded up $0.42 on Friday, hitting $45.39. The company’s stock had a trading volume of 554,912 shares, compared to its average volume of 531,625. The company has a market cap of $2.65 billion, a price-to-earnings ratio of 22.14, a P/E/G ratio of 2.03 and a beta of 0.94. Cirrus Logic, Inc. has a one year low of $31.25 and a one year high of $50.12. The firm has a fifty day moving average of $41.98.
Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, May 1st. The semiconductor company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.04. The company had revenue of $240.44 million for the quarter, compared to analyst estimates of $219.67 million. Cirrus Logic had a return on equity of 10.65% and a net margin of 7.59%. The firm’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. On average, research analysts forecast that Cirrus Logic, Inc. will post 1.48 EPS for the current fiscal year.
About Cirrus Logic
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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