Cavalry Management Group adds Cirrus Logic (CRUS) to its portfolio

Cirrus Logic (CRUS) : Cavalry Management Group added new position in Cirrus Logic during the most recent quarter end. The investment management firm now holds 125,918 shares of Cirrus Logic which is valued at $3.9 Million , the company said in a statement filed on May 13, 2016 with the SEC.Cirrus Logic makes up approximately 5.97% of Cavalry Management Group’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CRUS in the latest quarter, The investment management firm added 14,907 additional shares and now holds a total of 6,921,400 shares of Cirrus Logic which is valued at $217.1 Million. Cirrus Logic makes up approx 0.01% of Vanguard Group Inc’s portfolio.Oppenheimerfunds reduced its stake in CRUS by selling 187 shares or 1.24% in the most recent quarter. The Hedge Fund company now holds 14,877 shares of CRUS which is valued at $466,543.Municipal Employees’ Retirement System Of Michigan boosted its stake in CRUS in the latest quarter, The investment management firm added 3,580 additional shares and now holds a total of 16,430 shares of Cirrus Logic which is valued at $542,026. Cirrus Logic makes up approx 0.04% of Municipal Employees’ Retirement System Of Michigan’s portfolio. Hood River Capital Management added CRUS to its portfolio by purchasing 325,477 company shares during the most recent quarter which is valued at $10.7 Million. Cirrus Logic makes up approx 1.49% of Hood River Capital Management’s portfolio.Public Employees Retirement Association Of Colorado boosted its stake in CRUS in the latest quarter, The investment management firm added 40 additional shares and now holds a total of 14,629 shares of Cirrus Logic which is valued at $528,107.

Cirrus Logic opened for trading at $36.23 and hit $36.26 on the upside on Wednesday, eventually ending the session at $35.99, with a gain of 0.25% or 0.09 points. The heightened volatility saw the trading volume jump to 9,12,857 shares. Company has a market cap of $2,272 M.

On the company’s financial health, Cirrus Logic reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.21. The company had revenue of $232.00 million for the quarter, compared to analysts expectations of $226.24 million. The company’s revenue was down -9.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on Cirrus Logic. Shares were Downgraded by Barclays on May 5, 2016 to ” Equal Weight” and Lowered the Price Target to $ 35 from a previous price target of $37 .Topeka Capital Markets Initiated Cirrus Logic on Feb 26, 2016 to “Buy”, Price Target of the shares are set at $42.

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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