Cirrus Logic (CRUS) : Columbia Partners L L C Investment Management reduced its stake in Cirrus Logic by 11.31% during the most recent quarter end. The investment management company now holds a total of 219,945 shares of Cirrus Logic which is valued at $11,694,476 after selling 28,047 shares in Cirrus Logic , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Cirrus Logic makes up approximately 0.95% of Columbia Partners L L C Investment Management’s portfolio.
Other Hedge Funds, Including , Wolverine Trading reduced its stake in CRUS by selling 11,694 shares or 30.21% in the most recent quarter. The Hedge Fund company now holds 27,019 shares of CRUS which is valued at $1,436,600. Cirrus Logic makes up approx 0.09% of Wolverine Trading’s portfolio.Alliancebernstein boosted its stake in CRUS in the latest quarter, The investment management firm added 1,525,846 additional shares and now holds a total of 1,690,753 shares of Cirrus Logic which is valued at $90,522,916. Cirrus Logic makes up approx 0.08% of Alliancebernstein’s portfolio.Provise Management Group reduced its stake in CRUS by selling 4,121 shares or 35.91% in the most recent quarter. The Hedge Fund company now holds 7,356 shares of CRUS which is valued at $410,391. Cirrus Logic makes up approx 0.07% of Provise Management Group’s portfolio.Mutual Of America Capital Management boosted its stake in CRUS in the latest quarter, The investment management firm added 31,613 additional shares and now holds a total of 75,775 shares of Cirrus Logic which is valued at $4,141,104. Cirrus Logic makes up approx 0.09% of Mutual Of America Capital Management’s portfolio. Essex Investment Management Co sold out all of its stake in CRUS during the most recent quarter. The investment firm sold 23,462 shares of CRUS which is valued $1,282,198.
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 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.