Old Mutual Global Investors UK Ltd. lifted its holdings in Cirrus Logic, Inc. (NASDAQ:CRUS) by 86.5% in the fourth quarter, Holdings Channel reports. The fund owned 1,623,684 shares of the semiconductor company’s stock after buying an additional 753,200 shares during the period. Old Mutual Global Investors UK Ltd.’s holdings in Cirrus Logic were worth $84,204,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in CRUS. Prudential Financial Inc. lifted its holdings in shares of Cirrus Logic by 69.6% in the 3rd quarter. Prudential Financial Inc. now owns 967,033 shares of the semiconductor company’s stock worth $51,562,000 after acquiring an additional 396,890 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Cirrus Logic by 139.1% in the 4th quarter. APG Asset Management N.V. now owns 353,600 shares of the semiconductor company’s stock worth $15,271,000 after acquiring an additional 205,700 shares during the last quarter. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $9,395,000. Peregrine Capital Management LLC bought a new stake in shares of Cirrus Logic in the 3rd quarter worth approximately $8,531,000. Finally, Bank of New York Mellon Corp raised its holdings in Cirrus Logic by 9.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,637,193 shares of the semiconductor company’s stock valued at $87,293,000 after buying an additional 140,460 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Cirrus Logic, Inc. (NASDAQ CRUS) opened at $42.57 on Tuesday. The stock has a market cap of $2,685.47, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.23 and a beta of -0.02. Cirrus Logic, Inc. has a 1 year low of $39.51 and a 1 year high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Monday, February 5th. The semiconductor company reported $1.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.78 by ($0.19). The company had revenue of $482.70 million for the quarter, compared to analysts’ expectations of $530.99 million. Cirrus Logic had a net margin of 11.89% and a return on equity of 22.60%. The firm’s revenue for the quarter was down 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.87 earnings per share. analysts anticipate that Cirrus Logic, Inc. will post 3.78 EPS for the current year.

Cirrus Logic declared that its Board of Directors has initiated a share buyback plan on Monday, February 5th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the semiconductor company to purchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

A number of equities research analysts recently commented on the stock. Northland Securities reiterated a “buy” rating on shares of Cirrus Logic in a report on Friday, November 3rd. Needham & Company LLC reiterated a “buy” rating and set a $80.00 price target on shares of Cirrus Logic in a report on Friday, November 3rd. Craig Hallum reiterated a “hold” rating and set a $54.00 price target (down from $63.00) on shares of Cirrus Logic in a report on Friday, November 3rd. Zacks Investment Research lowered shares of Cirrus Logic from a “buy” rating to a “hold” rating in a report on Thursday, November 9th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $76.00 price target on shares of Cirrus Logic in a report on Friday, November 3rd. Five research analysts have rated the stock with a sell rating, four have given a hold rating and eight have given a buy rating to the company. Cirrus Logic currently has a consensus rating of “Hold” and a consensus price target of $60.92.

In other Cirrus Logic news, Director Christine King sold 562 shares of the business’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $49.75, for a total transaction of $27,959.50. Following the transaction, the director now directly owns 11,744 shares of the company’s stock, valued at approximately $584,264. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 6,140 shares of company stock worth $328,552. Insiders own 1.92% of the company’s stock.

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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.

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

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