Cirrus Logic (CRUS) : Columbia Partners L L C Investment Management reduced its stake in Cirrus Logic by 8.9% during the most recent quarter end. The investment management company now holds a total of 247,992 shares of Cirrus Logic which is valued at $12,692,231 after selling 24,240 shares in Cirrus Logic , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Cirrus Logic makes up approximately 0.90% of Columbia Partners L L C Investment Management’s portfolio.
Other Hedge Funds, Including , Bahl Gaynor Inc added CRUS to its portfolio by purchasing 19,800 company shares during the most recent quarter which is valued at $1,013,364. Cirrus Logic makes up approx 0.01% of Bahl Gaynor Inc’s portfolio.Teacher Retirement System Of Texas boosted its stake in CRUS in the latest quarter, The investment management firm added 1,078 additional shares and now holds a total of 8,892 shares of Cirrus Logic which is valued at $452,692. Janney Montgomery Scott added CRUS to its portfolio by purchasing 5,790 company shares during the most recent quarter which is valued at $292,163. Shelton Capital Management added CRUS to its portfolio by purchasing 5,343 company shares during the most recent quarter which is valued at $258,067. Cirrus Logic makes up approx 0.02% of Shelton Capital Management’s portfolio.
Cirrus Logic opened for trading at $51.5 and hit $52.77 on the upside on Friday, eventually ending the session at $52.15, with a gain of 1.05% or 0.54 points. The heightened volatility saw the trading volume jump to 5,32,715 shares. Company has a market cap of $3,258 M.
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 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.