Fox Run Management L.L.C. purchased a new position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,198 shares of the semiconductor company’s stock, valued at approximately $439,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CRUS. Steward Partners Investment Advisory LLC bought a new position in shares of Cirrus Logic in the 2nd quarter worth $33,000. BRYN MAWR TRUST Co boosted its position in shares of Cirrus Logic by 0.7% in the 2nd quarter. BRYN MAWR TRUST Co now owns 121,512 shares of the semiconductor company’s stock worth $5,311,000 after purchasing an additional 847 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Cirrus Logic in the 2nd quarter worth $44,000. Swiss National Bank boosted its position in shares of Cirrus Logic by 0.9% in the 2nd quarter. Swiss National Bank now owns 110,100 shares of the semiconductor company’s stock worth $4,811,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its position in shares of Cirrus Logic by 210.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,525 shares of the semiconductor company’s stock worth $67,000 after purchasing an additional 1,034 shares during the last quarter. Institutional investors and hedge funds own 85.94% of the company’s stock.
In other Cirrus Logic news, Director Timothy R. Dehne sold 4,583 shares of Cirrus Logic stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $53.15, for a total value of $243,586.45. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Bradley J. Fluke sold 8,000 shares of Cirrus Logic stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $42.77, for a total value of $342,160.00. The disclosure for this sale can be found here. Insiders sold a total of 166,248 shares of company stock worth $8,651,159 in the last three months. Company insiders own 2.79% of the company’s stock.
Cirrus Logic stock traded up $0.43 during mid-day trading on Tuesday, hitting $55.65. 13,837 shares of the company’s stock were exchanged, compared to its average volume of 578,370. The firm has a market capitalization of $3.26 billion, a P/E ratio of 27.34, a PEG ratio of 1.80 and a beta of 0.85. Cirrus Logic, Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $60.00. The company has a quick ratio of 3.18, a current ratio of 4.30 and a debt-to-equity ratio of 0.12. The company’s 50 day simple moving average is $54.23 and its 200-day simple moving average is $47.66.
Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported $0.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.21. Cirrus Logic had a return on equity of 10.96% and a net margin of 8.46%. The firm had revenue of $238.25 million for the quarter, compared to the consensus estimate of $221.08 million. During the same quarter last year, the business posted $0.28 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts expect that Cirrus Logic, Inc. will post 2.08 EPS for the current year.
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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