Cirrus Logic (CRUS) : Hillcrest Asset Management reduced its stake in Cirrus Logic by 0.35% during the most recent quarter end. The investment management company now holds a total of 239,870 shares of Cirrus Logic which is valued at $12,276,547 after selling 836 shares in Cirrus Logic , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cirrus Logic makes up approximately 2.94% of Hillcrest Asset Management’s portfolio.
Other Hedge Funds, Including , Rpg Family Wealth Advisory boosted its stake in CRUS in the latest quarter, The investment management firm added 30,958 additional shares and now holds a total of 61,036 shares of Cirrus Logic which is valued at $3,123,822. Cirrus Logic makes up approx 1.33% of Rpg Family Wealth Advisory’s portfolio.Kennedy Capital Management reduced its stake in CRUS by selling 72,003 shares or 32.51% in the most recent quarter. The Hedge Fund company now holds 149,450 shares of CRUS which is valued at $7,648,851. Cirrus Logic makes up approx 0.15% of Kennedy Capital Management’s portfolio.Lord Abbett reduced its stake in CRUS by selling 28,072 shares or 2.8% in the most recent quarter. The Hedge Fund company now holds 973,205 shares of CRUS which is valued at $49,808,632. Cirrus Logic makes up approx 0.15% of Lord Abbett’s portfolio.Rhumbline Advisers boosted its stake in CRUS in the latest quarter, The investment management firm added 1,110 additional shares and now holds a total of 83,185 shares of Cirrus Logic which is valued at $4,257,408. Cirrus Logic makes up approx 0.01% of Rhumbline Advisers’s portfolio.Blackrock Japan Ltd reduced its stake in CRUS by selling 2,431 shares or 70.08% in the most recent quarter. The Hedge Fund company now holds 1,038 shares of CRUS which is valued at $53,125.
Cirrus Logic opened for trading at $50.71 and hit $51.95 on the upside on Thursday, eventually ending the session at $51.95, with a gain of 2.36% or 1.2 points. The heightened volatility saw the trading volume jump to 7,49,500 shares. Company has a market cap of $3,246 M.
On the company’s financial health, Cirrus Logic reported $0.44 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.29. The company had revenue of $259.40 million for the quarter, compared to analysts expectations of $236.67 million. The company’s revenue was down -8.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Cirrus Logic. Company shares were Reiterated by Stifel on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $46 .Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Cirrus Logic was Downgraded by Pacific Crest to ” Sector Weight” on Jul 5, 2016.
Cirrus Logic Inc. (Cirrus Logic) develops high-precision analog and mixed-signal integrated circuits (ICs) for a range of audio and energy markets. Cirrus Logic delivers products for consumer and professional audio automotive entertainment and targeted industrial applications including energy control energy measurement light emitting diode (LED) lighting and energy exploration. The Company also serves customers from sales offices in the United States Europe and Asia including the Peoples Republic of China Hong Kong South Korea Japan Singapore Taiwan and the United Kingdom. The Audio Products segment offers analog and mixed-signal audio converter and audio DSP products. The Energy Products provides high-precision analog and mixed-signal ICs for targeted energy control energy measurement LED lighting and energy exploration applications.