Robeco Institutional Asset Management B.V. trimmed its position in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,327 shares of the semiconductor company’s stock after selling 2,479 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.21% of Cirrus Logic worth $5,391,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cirrus Logic during the 4th quarter valued at about $33,900,000. BlackRock Inc. raised its holdings in Cirrus Logic by 3.3% during the 1st quarter. BlackRock Inc. now owns 7,917,404 shares of the semiconductor company’s stock worth $333,085,000 after purchasing an additional 253,505 shares during the last quarter. Royce & Associates LP raised its holdings in Cirrus Logic by 48.0% during the 1st quarter. Royce & Associates LP now owns 694,702 shares of the semiconductor company’s stock worth $29,226,000 after purchasing an additional 225,172 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Cirrus Logic by 35.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 700,863 shares of the semiconductor company’s stock worth $29,485,000 after purchasing an additional 184,619 shares during the last quarter. Finally, Spark Investment Management LLC raised its holdings in Cirrus Logic by 218.4% during the 1st quarter. Spark Investment Management LLC now owns 127,900 shares of the semiconductor company’s stock worth $5,380,000 after purchasing an additional 87,730 shares during the last quarter. 84.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CRUS stock traded down $0.05 during mid-day trading on Wednesday, reaching $52.61. 52,632 shares of the stock traded hands, compared to its average volume of 792,248. The business has a fifty day moving average price of $45.69. Cirrus Logic, Inc. has a 1-year low of $31.25 and a 1-year high of $60.00. The stock has a market capitalization of $3.06 billion, a P/E ratio of 25.66, a price-to-earnings-growth ratio of 2.49 and a beta of 0.95. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.18 and a current ratio of 4.30.
Several analysts have weighed in on CRUS shares. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a report on Monday. MKM Partners increased their price objective on Cirrus Logic to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research report on Wednesday, May 8th. Craig Hallum reissued a “hold” rating and set a $42.00 target price (up from $38.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Finally, ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Cirrus Logic presently has an average rating of “Buy” and a consensus target price of $50.13.
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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