Cirrus Logic (CRUS) : New Amsterdam Partnersny added new position in Cirrus Logic during the most recent quarter end. The investment management firm now holds 60,232 shares of Cirrus Logic which is valued at $2,909,206 , the company said in a statement filed on Aug 1, 2016 with the SEC.Cirrus Logic makes up approximately 0.68% of New Amsterdam Partnersny’s portfolio.
Other Hedge Funds, Including , Hussman Strategic Advisors reduced its stake in CRUS by selling 175,000 shares or 46.67% in the most recent quarter. The Hedge Fund company now holds 200,000 shares of CRUS which is valued at $9,660,000. Cirrus Logic makes up approx 1.43% of Hussman Strategic Advisors’s portfolio. Cwm sold out all of its stake in CRUS during the most recent quarter. The investment firm sold 500 shares of CRUS which is valued $20,105.Bnp Paribas Arbitrage Sa boosted its stake in CRUS in the latest quarter, The investment management firm added 10,431 additional shares and now holds a total of 20,347 shares of Cirrus Logic which is valued at $777,459.
Cirrus Logic opened for trading at $48.4 and hit $49.25 on the upside on Thursday, eventually ending the session at $49.01, with a gain of 1.47% or 0.71 points. The heightened volatility saw the trading volume jump to 9,47,769 shares. Company has a market cap of $3,062 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.