Nationwide Fund Advisors Has $7.63 Million Position in Cirrus Logic, Inc. (CRUS)

Nationwide Fund Advisors reduced its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 11.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,015 shares of the semiconductor company’s stock after selling 17,984 shares during the period. Nationwide Fund Advisors owned approximately 0.22% of Cirrus Logic worth $7,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRUS. Aperio Group LLC raised its holdings in Cirrus Logic by 36.3% during the second quarter. Aperio Group LLC now owns 19,720 shares of the semiconductor company’s stock worth $1,237,000 after purchasing an additional 5,256 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Cirrus Logic by 7.2% in the second quarter. Russell Investments Group Ltd. now owns 173,082 shares of the semiconductor company’s stock valued at $10,856,000 after buying an additional 11,567 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Cirrus Logic in the second quarter valued at about $428,000. Strs Ohio increased its holdings in Cirrus Logic by 10.8% in the second quarter. Strs Ohio now owns 10,300 shares of the semiconductor company’s stock valued at $646,000 after buying an additional 1,000 shares in the last quarter. Finally, Great West Life Assurance Co. Can increased its holdings in Cirrus Logic by 2.5% in the second quarter. Great West Life Assurance Co. Can now owns 61,004 shares of the semiconductor company’s stock valued at $3,822,000 after buying an additional 1,468 shares in the last quarter. 89.26% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on CRUS shares. Bank of America started coverage on shares of Cirrus Logic in a report on Monday, September 18th. They issued an “underperform” rating and a $50.00 target price for the company. Craig Hallum reaffirmed a “hold” rating and issued a $54.00 target price (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. KeyCorp reaffirmed an “overweight” rating on shares of Cirrus Logic in a report on Thursday, September 14th. Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Cirrus Logic has an average rating of “Buy” and a consensus price target of $67.05.

In other news, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $53.44, for a total value of $391,448.00. Following the sale, the vice president now directly owns 12,000 shares in the company, valued at $641,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $57.42, for a total transaction of $287,100.00. Following the completion of the sale, the director now owns 16,182 shares in the company, valued at $929,170.44. The disclosure for this sale can be found here. Insiders sold 22,881 shares of company stock worth $1,251,772 over the last quarter. Company insiders own 1.92% of the company’s stock.

Shares of Cirrus Logic, Inc. (CRUS) opened at $49.98 on Friday. The company has a market cap of $3,173.07, a P/E ratio of 11.38, a PEG ratio of 1.30 and a beta of 0.01. Cirrus Logic, Inc. has a 1 year low of $48.61 and a 1 year high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the consensus estimate of $1.20 by $0.16. The business had revenue of $425.50 million for the quarter, compared to analyst estimates of $410.32 million. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The company’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 earnings per share. research analysts expect that Cirrus Logic, Inc. will post 4.21 EPS for the current fiscal year.

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Cirrus Logic Profile

Cirrus Logic, Inc is engaged in providing integrated circuits (ICs) for audio and voice signal processing applications. The Company develops analog and mixed-signal ICs for a range of customers. The Company offers two product lines: Portable Audio, and Non-Portable Audio and Other. The Company’s primary facility housing engineering, sales and marketing, and administration functions is located in Austin, Texas.

Institutional Ownership by Quarter for Cirrus Logic (NASDAQ:CRUS)

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