Raymond James Financial Services Advisors Inc. purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,042 shares of the semiconductor company’s stock, valued at approximately $322,000.

Several other large investors have also added to or reduced their stakes in CRUS. Fortaleza Asset Management Inc. bought a new position in Cirrus Logic during the second quarter valued at about $102,000. ETRADE Capital Management LLC bought a new position in Cirrus Logic during the second quarter valued at about $201,000. Private Advisor Group LLC bought a new position in Cirrus Logic during the second quarter valued at about $215,000. Turner Investments LLC bought a new position in Cirrus Logic during the second quarter valued at about $220,000. Finally, Sheaff Brock Investment Advisors LLC bought a new position in Cirrus Logic during the second quarter valued at about $248,000. 89.26% of the stock is owned by institutional investors.

Cirrus Logic, Inc. (CRUS) opened at $49.98 on Friday. Cirrus Logic, Inc. has a 52-week low of $48.61 and a 52-week high of $71.97. The firm has a market capitalization of $3,164.79, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.30 and a beta of 0.01.

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

Several brokerages recently weighed in on CRUS. BidaskClub cut Cirrus Logic from a “hold” rating to a “sell” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Cirrus Logic in a research note on Friday, November 3rd. ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a report on Tuesday, September 19th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $67.05.

In other Cirrus Logic news, Director Christine King sold 5,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $54.51, for a total value of $272,550.00. Following the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at approximately $882,080.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $53.44, for a total value of $391,448.00. Following the transaction, the vice president now directly owns 12,000 shares in the company, valued at approximately $641,280. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,881 shares of company stock worth $1,251,772. Insiders own 1.92% of the company’s stock.

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About Cirrus Logic

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.

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

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