Teachers Advisors LLC raised its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 133,374 shares of the semiconductor company’s stock after purchasing an additional 547 shares during the period. Teachers Advisors LLC owned 0.22% of Cirrus Logic worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in CRUS. Vanguard Group Inc. grew its stake in shares of Cirrus Logic by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,619,593 shares of the semiconductor company’s stock worth $216,916,000 after acquiring an additional 24,334 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Cirrus Logic by 0.4% in the third quarter. Vanguard Group Inc now owns 5,619,593 shares of the semiconductor company’s stock valued at $216,916,000 after buying an additional 24,334 shares in the last quarter. LSV Asset Management grew its stake in shares of Cirrus Logic by 1.9% in the third quarter. LSV Asset Management now owns 3,285,586 shares of the semiconductor company’s stock valued at $126,823,000 after buying an additional 59,700 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Cirrus Logic by 1.9% in the third quarter. AQR Capital Management LLC now owns 2,766,026 shares of the semiconductor company’s stock valued at $106,768,000 after buying an additional 52,377 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Cirrus Logic by 6.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,272,031 shares of the semiconductor company’s stock valued at $87,699,000 after buying an additional 144,179 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.
In related news, VP Randolph K. Carlson sold 10,848 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $37.43, for a total value of $406,040.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy R. Dehne sold 3,056 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $38.72, for a total value of $118,328.32. The disclosure for this sale can be found here. Insiders own 2.32% of the company’s stock.
CRUS stock traded down $0.35 during midday trading on Friday, reaching $37.94. The company had a trading volume of 542,315 shares, compared to its average volume of 855,310. Cirrus Logic, Inc. has a 1-year low of $31.25 and a 1-year high of $46.18. The company has a market cap of $2.24 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 1.47 and a beta of 0.61.
Cirrus Logic (NASDAQ:CRUS) last released its earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. Cirrus Logic had a return on equity of 11.88% and a net margin of 7.68%. The firm had revenue of $324.30 million for the quarter, compared to analysts’ expectations of $319.37 million. During the same quarter in the previous year, the business posted $1.59 earnings per share. The business’s revenue for the quarter was down 32.8% on a year-over-year basis. As a group, analysts anticipate that Cirrus Logic, Inc. will post 1.72 EPS for the current fiscal year.
Cirrus Logic declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 30th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to repurchase up to 8.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
A number of equities analysts have commented on the stock. BidaskClub raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Wednesday, January 16th. ValuEngine raised Cirrus Logic from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Bank of America set a $29.00 target price on Cirrus Logic and gave the stock a “sell” rating in a report on Tuesday, December 4th. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a report on Wednesday, November 21st. Finally, TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.13.
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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