Cirrus Logic, Inc. (CRUS) Position Trimmed by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.3% in the third quarter, HoldingsChannel reports. The firm owned 126,849 shares of the semiconductor company’s stock after selling 4,357 shares during the period. Rhumbline Advisers’ holdings in Cirrus Logic were worth $4,896,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CRUS. Prudential Financial Inc. increased its position in shares of Cirrus Logic by 354.3% in the third quarter. Prudential Financial Inc. now owns 388,916 shares of the semiconductor company’s stock valued at $15,012,000 after acquiring an additional 303,317 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Cirrus Logic by 98.1% in the third quarter. JPMorgan Chase & Co. now owns 1,328,248 shares of the semiconductor company’s stock valued at $51,271,000 after acquiring an additional 657,662 shares during the last quarter. LSV Asset Management increased its position 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 acquiring an additional 59,700 shares during the last quarter. Stone Ridge Asset Management LLC increased its position in shares of Cirrus Logic by 24.1% in the third quarter. Stone Ridge Asset Management LLC now owns 32,777 shares of the semiconductor company’s stock valued at $1,265,000 after acquiring an additional 6,371 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Cirrus Logic by 157.1% in the third quarter. O Shaughnessy Asset Management LLC now owns 17,340 shares of the semiconductor company’s stock valued at $669,000 after acquiring an additional 10,596 shares during the last quarter. 90.44% of the stock is owned by hedge funds and other institutional investors.

CRUS has been the topic of a number of recent research reports. BidaskClub raised Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. ValuEngine raised Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Craig Hallum reaffirmed a “buy” rating and issued a $47.00 target price (down previously from $51.00) on shares of Cirrus Logic in a research report on Friday, November 2nd. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Thursday, November 8th. Finally, Zacks Investment Research downgraded Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Four research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $45.88.

Shares of NASDAQ CRUS opened at $36.75 on Friday. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.29 and a beta of 0.50. Cirrus Logic, Inc. has a twelve month low of $34.49 and a twelve month high of $55.13.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.34. The firm had revenue of $366.30 million for the quarter, compared to the consensus estimate of $330.27 million. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The business’s revenue was down 13.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.36 earnings per share. Equities analysts forecast that Cirrus Logic, Inc. will post 1.96 EPS for the current year.

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

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