Creative Planning lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.1% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 7,985 shares of the semiconductor company’s stock after selling 700 shares during the period. Creative Planning’s holdings in Cirrus Logic were worth $493,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd bought a new stake in shares of Cirrus Logic in the 1st quarter worth about $44,000. OmniStar Financial Group Inc. bought a new stake in shares of Cirrus Logic during the 1st quarter valued at about $50,000. C M Bidwell & Associates Ltd. grew its position in shares of Cirrus Logic by 50.0% during the 1st quarter. C M Bidwell & Associates Ltd. now owns 810 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 270 shares during the last quarter. Fifth Third Bancorp grew its position in shares of Cirrus Logic by 45.8% during the 1st quarter. Fifth Third Bancorp now owns 1,359 shares of the semiconductor company’s stock valued at $89,000 after buying an additional 427 shares during the last quarter. Finally, Pearl River Capital LLC bought a new stake in shares of Cirrus Logic during the 1st quarter valued at about $95,000. 86.53% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Cirrus Logic in a research report on Monday, May 18th. TheStreet downgraded shares of Cirrus Logic from a “b-” rating to a “c” rating in a research report on Monday, June 1st. Susquehanna Bancshares boosted their price objective on shares of Cirrus Logic from $82.00 to $84.00 in a research report on Tuesday, May 5th. ValuEngine downgraded shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Finally, Barclays downgraded shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $75.00 to $60.00 in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $80.13.
Cirrus Logic stock opened at $68.53 on Friday. The company has a quick ratio of 3.17, a current ratio of 4.10 and a debt-to-equity ratio of 0.11. The firm has a 50-day moving average price of $63.51 and a two-hundred day moving average price of $69.63. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 25.86, a PEG ratio of 3.43 and a beta of 0.95. Cirrus Logic, Inc. has a 52-week low of $47.04 and a 52-week high of $91.63.
Cirrus Logic (NASDAQ:CRUS) last posted its earnings results on Monday, May 4th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.18. The firm had revenue of $279.29 million during the quarter, compared to analyst estimates of $258.73 million. Cirrus Logic had a net margin of 12.45% and a return on equity of 16.46%. Cirrus Logic’s revenue was up 16.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. Research analysts expect that Cirrus Logic, Inc. will post 2.3 earnings per share 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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