Odey Asset Management Group Ltd buys $51,997,191 stake in Cirrus Logic (CRUS)

Cirrus Logic (CRUS) : Odey Asset Management Group Ltd scooped up 700,233 additional shares in Cirrus Logic during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,015,967 shares of Cirrus Logic which is valued at $51,997,191.Cirrus Logic makes up approximately 5.11% of Odey Asset Management Group Ltd’s portfolio.

Other Hedge Funds, Including , Engineers Gate Manager Lp added CRUS to its portfolio by purchasing 7,600 company shares during the most recent quarter which is valued at $388,968. Cirrus Logic makes up approx 0.03% of Engineers Gate Manager Lp’s portfolio.First Mercantile Trust Co boosted its stake in CRUS in the latest quarter, The investment management firm added 665 additional shares and now holds a total of 2,372 shares of Cirrus Logic which is valued at $121,399. Cirrus Logic makes up approx 0.01% of First Mercantile Trust Co’s portfolio. Wcm Investment Managementca added CRUS to its portfolio by purchasing 112,180 company shares during the most recent quarter which is valued at $5,660,603. Cirrus Logic makes up approx 0.09% of Wcm Investment Managementca’s portfolio.

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 People’s 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.

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