Migdal Insurance & Financial Holdings Ltd. boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 72.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,590 shares of the semiconductor company’s stock after purchasing an additional 1,086 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Cirrus Logic were worth $138,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CRUS. Fortaleza Asset Management Inc. purchased a new stake in Cirrus Logic in the 2nd quarter worth $102,000. ETRADE Capital Management LLC purchased a new stake in Cirrus Logic in the 2nd quarter worth $201,000. Sapphire Star Partners LP purchased a new stake in Cirrus Logic in the 3rd quarter worth $211,000. Private Advisor Group LLC purchased a new stake in Cirrus Logic in the 2nd quarter worth $215,000. Finally, Turner Investments LLC purchased a new stake in Cirrus Logic in the 2nd quarter worth $220,000. Institutional investors and hedge funds own 91.50% of the company’s stock.

Cirrus Logic, Inc. (CRUS) traded down $1.04 during trading on Monday, reaching $55.65. 123,573 shares of the company’s stock traded hands, compared to its average volume of 1,165,682. The stock has a market cap of $3,610.00, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.03 and a beta of 0.05. Cirrus Logic, Inc. has a 12 month low of $49.05 and a 12 month high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last released its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.16. The company had revenue of $425.50 million during the quarter, compared to analysts’ expectations of $410.32 million. Cirrus Logic had a net margin of 17.11% and a return on equity of 25.37%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.35 EPS. analysts anticipate that Cirrus Logic, Inc. will post 4.31 EPS for the current year.

A number of analysts have recently weighed in on CRUS shares. Zacks Investment Research downgraded shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday. Canaccord Genuity restated a “buy” rating and issued a $76.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. Northland Securities restated a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. Needham & Company LLC restated a “buy” rating and issued a $80.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. Finally, Craig Hallum restated a “hold” rating and issued a $54.00 target price (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Cirrus Logic has an average rating of “Buy” and an average target price of $67.05.

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In other news, Director Christine King sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $56.31, for a total value of $281,550.00. Following the completion of the sale, the director now owns 16,182 shares of the company’s stock, valued at approximately $911,208.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew Brannan sold 21,504 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total transaction of $1,184,870.40. Following the completion of the sale, the vice president now directly owns 21,504 shares of the company’s stock, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,367 shares of company stock valued at $2,447,455. 1.92% of the stock is owned by corporate insiders.

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.

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

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