Cirrus Logic (CRUS) : Smith Graham Investment Advisors Lp reduced its stake in Cirrus Logic by 4.25% during the most recent quarter end. The investment management company now holds a total of 307,890 shares of Cirrus Logic which is valued at $11,114,829 after selling 13,660 shares in Cirrus Logic , the firm said in a disclosure report filed with the SEC on Apr 26, 2016.Cirrus Logic makes up approximately 1.46% of Smith Graham Investment Advisors Lp’s portfolio.
Cirrus Logic opened for trading at $36.12 and hit $36.59 on the upside on Monday, eventually ending the session at $36.32, with a gain of 0.61% or 0.22 points. The heightened volatility saw the trading volume jump to 8,09,798 shares. Company has a market cap of $2,293 M.
Other Hedge Funds, Including , Metlife Securities Inc reduced its stake in CRUS by selling 996 shares or 13.83% in the most recent quarter. The Hedge Fund company now holds 6,204 shares of CRUS which is valued at $212,177. Cirrus Logic makes up approx 0.01% of Metlife Securities Inc’s portfolio. First Citizens Bank Trust Co sold out all of its stake in CRUS during the most recent quarter. The investment firm sold 36,963 shares of CRUS which is valued $1,264,135.Juncture Wealth Strategies boosted its stake in CRUS in the latest quarter, The investment management firm added 20,829 additional shares and now holds a total of 32,224 shares of Cirrus Logic which is valued at $1,174,565. Cirrus Logic makes up approx 0.88% of Juncture Wealth Strategies’s portfolio.
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. Topeka Capital Markets Initiated Cirrus Logic on Feb 26, 2016 to “Buy”, Price Target of the shares are set at $42.Oppenheimer Upgraded Cirrus Logic on Jan 28, 2016 to ” Outperform”, Price Target of the shares are set at $40.
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.