PineBridge Investments L.P. boosted its position in Cirrus Logic Inc. (NASDAQ:CRUS) by 2.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,892 shares of the company’s stock after buying an additional 179 shares during the period. PineBridge Investments L.P.’s holdings in Cirrus Logic were worth $306,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CRUS. Principal Financial Group Inc. increased its position in Cirrus Logic by 1.1% in the second quarter. Principal Financial Group Inc. now owns 451,308 shares of the company’s stock valued at $17,507,000 after buying an additional 5,109 shares during the period. Prudential Financial Inc. increased its position in Cirrus Logic by 7.1% in the second quarter. Prudential Financial Inc. now owns 400,634 shares of the company’s stock valued at $15,541,000 after buying an additional 26,671 shares during the period. Dimensional Fund Advisors LP increased its position in Cirrus Logic by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,443,895 shares of the company’s stock valued at $94,797,000 after buying an additional 34,464 shares during the period. Systematic Financial Management LP bought a new position in Cirrus Logic during the second quarter valued at $1,743,000. Finally, Teacher Retirement System of Texas increased its position in Cirrus Logic by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 8,892 shares of the company’s stock valued at $345,000 after buying an additional 1,078 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Cirrus Logic Inc. (NASDAQ:CRUS) opened at 55.89 on Thursday. Cirrus Logic Inc. has a 52-week low of $25.09 and a 52-week high of $58.08. The stock has a market cap of $3.49 billion, a PE ratio of 34.69 and a beta of 0.44. The company’s 50 day moving average is $51.62 and its 200-day moving average is $40.55.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.16. Cirrus Logic had a net margin of 9.26% and a return on equity of 14.44%. The firm earned $259.40 million during the quarter, compared to analysts’ expectations of $236.67 million. During the same quarter last year, the business earned $0.54 earnings per share. The business’s revenue for the quarter was down 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Cirrus Logic Inc. will post $3.28 earnings per share for the current year.

Several research analysts recently weighed in on the stock. Canaccord Genuity upped their price target on shares of Cirrus Logic from $56.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus upped their price target on shares of Cirrus Logic from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Thursday, September 8th. Pacific Crest restated an “equal weight” rating on shares of Cirrus Logic in a research report on Monday, August 29th. Needham & Company LLC restated a “buy” rating and set a $55.00 price target on shares of Cirrus Logic in a research report on Thursday, August 4th. Finally, Zacks Investment Research upgraded shares of Cirrus Logic from a “hold” rating to a “strong-buy” rating and set a $56.00 price target for the company in a research report on Monday, August 1st. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.64.

In other Cirrus Logic news, Director David J. Tupman sold 1,500 shares of Cirrus Logic stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $40.62, for a total transaction of $60,930.00. Following the completion of the transaction, the director now owns 2,500 shares in the company, valued at $101,550. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William D. Sherman sold 1,200 shares of Cirrus Logic stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $50.85, for a total transaction of $61,020.00. Following the transaction, the director now owns 12,257 shares of the company’s stock, valued at approximately $623,268.45. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Cirrus Logic Company 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.

5 Day Chart for NASDAQ:CRUS

Want to see what other hedge funds are holding CRUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cirrus Logic Inc. (NASDAQ:CRUS).

Receive News & Ratings for Cirrus Logic Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cirrus Logic Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.