Cirrus Logic (CRUS) : Smith Graham Investment Advisors Lp reduced its stake in Cirrus Logic by 7.38% during the most recent quarter end. The investment management company now holds a total of 238,540 shares of Cirrus Logic which is valued at $12,721,338 after selling 19,010 shares in Cirrus Logic , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Cirrus Logic makes up approximately 1.65% of Smith Graham Investment Advisors Lp’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc reduced its stake in CRUS by selling 1,298 shares or 24.54% in the most recent quarter. The Hedge Fund company now holds 3,992 shares of CRUS which is valued at $212,255. Cirrus Logic makes up approx 0.01% of Msi Financial Services Inc’s portfolio.Capstone Asset Management Co reduced its stake in CRUS by selling 660 shares or 2.67% in the most recent quarter. The Hedge Fund company now holds 24,069 shares of CRUS which is valued at $1,300,207. Cirrus Logic makes up approx 0.04% of Capstone Asset Management Co’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CRUS by selling 8,378 shares or 41.18% in the most recent quarter. The Hedge Fund company now holds 11,969 shares of CRUS which is valued at $639,264.
Cirrus Logic opened for trading at $53.41 and hit $54.129 on the upside on Friday, eventually ending the session at $53.33, with a gain of 0.30% or 0.16 points. The heightened volatility saw the trading volume jump to 5,73,371 shares. Company has a market cap of $3,332 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 Oct 13, 2016 to “Buy”, Firm has raised the Price Target to $ 62 from a previous price target of $58 .Company shares were Reiterated by Canaccord Genuity on Sep 20, 2016 to “Buy”, Firm has raised the Price Target to $ 65 from a previous price target of $56 .Company shares were Reiterated by Stifel on Sep 8, 2016 to “Buy”, Firm has raised the Price Target to $ 58 from a previous price target of $55 .
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.