Cavalry Management Group buys $5,279,409 stake in Cirrus Logic (CRUS)

Cirrus Logic (CRUS) : Cavalry Management Group scooped up 8,445 additional shares in Cirrus Logic during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 99,293 shares of Cirrus Logic which is valued at $5,279,409.Cirrus Logic makes up approximately 4.54% of Cavalry Management Group’s portfolio.

Other Hedge Funds, Including , Friess Associates reduced its stake in CRUS by selling 120,333 shares or 39.39% in the most recent quarter. The Hedge Fund company now holds 185,147 shares of CRUS which is valued at $9,844,266. Cirrus Logic makes up approx 0.99% of Friess Associates’s portfolio.Sheaff Brock Investment Advisors boosted its stake in CRUS in the latest quarter, The investment management firm added 13,413 additional shares and now holds a total of 21,583 shares of Cirrus Logic which is valued at $1,204,116. Cirrus Logic makes up approx 0.16% of Sheaff Brock Investment Advisors’s portfolio.Clarivest Asset Management reduced its stake in CRUS by selling 24,135 shares or 30.9% in the most recent quarter. The Hedge Fund company now holds 53,967 shares of CRUS which is valued at $3,010,819. Cirrus Logic makes up approx 0.09% of Clarivest Asset Management’s portfolio.Dupont Capital Management Corp reduced its stake in CRUS by selling 22,196 shares or 21.12% in the most recent quarter. The Hedge Fund company now holds 82,891 shares of CRUS which is valued at $4,529,993. Cirrus Logic makes up approx 0.10% of Dupont Capital Management Corp’s portfolio. World Asset Management Inc added CRUS to its portfolio by purchasing 4,068 company shares during the most recent quarter which is valued at $219,591. Cirrus Logic makes up approx 0.01% of World Asset Management Inc’s portfolio.

Cirrus Logic opened for trading at $56.5 and hit $57.87 on the upside on Monday, eventually ending the session at $57.79, with a gain of 2.43% or 1.37 points. The heightened volatility saw the trading volume jump to 11,81,369 shares. Company has a market cap of $3,682 M.

On the company’s financial health, Cirrus Logic reported $1.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.30 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.05. The company had revenue of $428.62 million for the quarter, compared to analysts expectations of $396.90 million. The company’s revenue was up 39.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS.

Many Wall Street Analysts have commented on Cirrus Logic. Craig Hallum Initiated Cirrus Logic on Nov 21, 2016 to “Hold”, Price Target of the shares are set at $60.Company shares were Reiterated by Canaccord Genuity on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $65 .Company shares were Reiterated by Stifel on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 68 from a previous price target of $62 .

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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