Brandywine Global Investment Management LLC cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 3.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,436 shares of the semiconductor company’s stock after selling 6,398 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.32% of Cirrus Logic worth $12,823,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CRUS. Vanguard Group Inc. raised its holdings in shares of Cirrus Logic by 7.7% in the 1st quarter. Vanguard Group Inc. now owns 7,057,091 shares of the semiconductor company’s stock valued at $428,295,000 after purchasing an additional 502,335 shares during the period. BlackRock Inc. raised its holdings in shares of Cirrus Logic by 20,057.8% in the 1st quarter. BlackRock Inc. now owns 6,973,982 shares of the semiconductor company’s stock valued at $423,252,000 after purchasing an additional 6,939,385 shares during the period. LSV Asset Management raised its holdings in shares of Cirrus Logic by 27.3% in the 2nd quarter. LSV Asset Management now owns 2,597,827 shares of the semiconductor company’s stock valued at $162,935,000 after purchasing an additional 557,048 shares during the period. State Street Corp raised its holdings in shares of Cirrus Logic by 5.8% in the 1st quarter. State Street Corp now owns 2,226,243 shares of the semiconductor company’s stock valued at $135,107,000 after purchasing an additional 122,309 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Cirrus Logic by 103.5% in the 1st quarter. AQR Capital Management LLC now owns 2,015,030 shares of the semiconductor company’s stock valued at $122,292,000 after purchasing an additional 1,024,836 shares during the period. 89.08% of the stock is currently owned by hedge funds and other institutional investors.

Cirrus Logic, Inc. (CRUS) opened at 53.32 on Friday. The firm has a market cap of $3.40 billion and a price-to-earnings ratio of 12.47. Cirrus Logic, Inc. has a 52 week low of $49.05 and a 52 week high of $71.97. The company has a 50-day moving average of $56.87 and a 200-day moving average of $61.54.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, August 2nd. The semiconductor company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.66 by $0.15. The business had revenue of $320.70 million for the quarter, compared to analyst estimates of $320.32 million. Cirrus Logic had a net margin of 17.38% and a return on equity of 26.71%. The company’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Equities research analysts forecast that Cirrus Logic, Inc. will post $4.74 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on CRUS. Bank of America Corporation began coverage on shares of Cirrus Logic in a report on Monday, September 18th. They issued an “underperform” rating and a $50.00 target price on the stock. Barclays PLC cut shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 target price on the stock. in a report on Tuesday, July 18th. ValuEngine cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Monday, September 18th. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price on the stock in a report on Thursday, August 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $67.83.

In other news, Director Alan R. Schuele sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $57.30, for a total value of $114,600.00. Following the sale, the director now owns 14,165 shares of the company’s stock, valued at $811,654.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William D. Sherman sold 1,378 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $61.84, for a total transaction of $85,215.52. Following the completion of the sale, the director now directly owns 7,307 shares in the company, valued at approximately $451,864.88. The disclosure for this sale can be found here. In the last three months, insiders sold 97,313 shares of company stock worth $5,523,018. 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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