Central Asset Investments Management Holdings (hk) Ltd adds Cirrus Logic (CRUS) to its portfolio

Cirrus Logic (CRUS) : Central Asset Investments Management Holdings (hk) Ltd added new position in Cirrus Logic during the most recent quarter end. The investment management firm now holds 18,100 shares of Cirrus Logic which is valued at $926,358 , the company said in a statement filed on Aug 12, 2016 with the SEC.Cirrus Logic makes up approximately 2.24% of Central Asset Investments Management Holdings (hk) Ltd’s portfolio.

Other Hedge Funds, Including , Geode Capital Management reduced its stake in CRUS by selling 59,966 shares or 10.48% in the most recent quarter. The Hedge Fund company now holds 512,127 shares of CRUS which is valued at $26,210,660. Cirrus Logic makes up approx 0.01% of Geode Capital Management’s portfolio.Alliancebernstein boosted its stake in CRUS in the latest quarter, The investment management firm added 45,180 additional shares and now holds a total of 164,907 shares of Cirrus Logic which is valued at $8,439,940. Cirrus Logic makes up approx 0.01% of Alliancebernstein’s portfolio. Exane Derivatives sold out all of its stake in CRUS during the most recent quarter. The investment firm sold 1,452 shares of CRUS which is valued $70,132.Dupont Capital Management Corp boosted its stake in CRUS in the latest quarter, The investment management firm added 6,885 additional shares and now holds a total of 105,087 shares of Cirrus Logic which is valued at $5,075,702. Cirrus Logic makes up approx 0.11% of Dupont Capital Management Corp’s portfolio. Arcadia Investment Management Corpmi added CRUS to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $20,180. Cirrus Logic makes up approx 0.01% of Arcadia Investment Management Corpmi’s portfolio.

Cirrus Logic closed down -0.14 points or -0.27% at $51.19 with 7,45,369 shares getting traded on Monday. Post opening the session at $51.47, the shares hit an intraday low of $50.885 and an intraday high of $51.64 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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 Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $46 .Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 55 from a previous price target of $50 .Cirrus Logic was Downgraded by Pacific Crest to ” Sector Weight” on Jul 5, 2016.

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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