Chicago Equity Partners LLC Has $2.51 Million Position in Cirrus Logic, Inc. (CRUS)

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Chicago Equity Partners LLC lessened its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 6.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,496 shares of the semiconductor company’s stock after selling 5,105 shares during the quarter. Chicago Equity Partners LLC owned 0.13% of Cirrus Logic worth $2,505,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CRUS. Bank of America Corp DE raised its position in Cirrus Logic by 0.6% during the second quarter. Bank of America Corp DE now owns 227,011 shares of the semiconductor company’s stock worth $8,701,000 after acquiring an additional 1,254 shares during the period. Bank of Montreal Can grew its holdings in shares of Cirrus Logic by 88.7% during the third quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock worth $131,000 after buying an additional 1,593 shares in the last quarter. First Hawaiian Bank purchased a new stake in shares of Cirrus Logic during the third quarter worth $140,000. Aperio Group LLC grew its holdings in shares of Cirrus Logic by 14.6% during the third quarter. Aperio Group LLC now owns 51,574 shares of the semiconductor company’s stock worth $1,991,000 after buying an additional 6,573 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Cirrus Logic by 25.2% during the third quarter. First Trust Advisors LP now owns 129,802 shares of the semiconductor company’s stock worth $5,010,000 after buying an additional 26,132 shares in the last quarter. Institutional investors and hedge funds own 93.16% of the company’s stock.

Shares of CRUS opened at $38.66 on Thursday. Cirrus Logic, Inc. has a 12-month low of $31.25 and a 12-month high of $46.18. The stock has a market capitalization of $2.30 billion, a P/E ratio of 10.48, a PEG ratio of 1.47 and a beta of 0.61.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, January 30th. The semiconductor company reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.13. The company had revenue of $324.30 million during the quarter, compared to analyst estimates of $319.37 million. Cirrus Logic had a net margin of 7.68% and a return on equity of 11.88%. Cirrus Logic’s revenue was down 32.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.59 earnings per share. As a group, research analysts expect that Cirrus Logic, Inc. will post 1.72 EPS for the current fiscal year.

Cirrus Logic declared that its Board of Directors has authorized a stock buyback program on Wednesday, January 30th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the semiconductor company to reacquire up to 8.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

CRUS has been the subject of a number of research reports. Craig Hallum reaffirmed a “buy” rating and set a $47.00 target price (down previously from $51.00) on shares of Cirrus Logic in a report on Friday, November 2nd. BidaskClub raised shares of Cirrus Logic from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. TheStreet lowered shares of Cirrus Logic from a “b-” rating to a “c” rating in a report on Friday, February 1st. MKM Partners dropped their price objective on shares of Cirrus Logic to $45.00 and set a “buy” rating for the company in a report on Tuesday, December 4th. Finally, ValuEngine lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $42.13.

In other Cirrus Logic news, Director Timothy R. Dehne sold 3,056 shares of the stock in a transaction dated Tuesday, February 5th. The shares were sold at an average price of $38.72, for a total transaction of $118,328.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Randolph K. Carlson sold 10,848 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $37.43, for a total transaction of $406,040.64. The disclosure for this sale can be found here. Company insiders own 2.32% of the company’s stock.

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Cirrus Logic Company Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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

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