Sapphire Star Partners LP purchased a new position in Cirrus Logic, Inc. (NASDAQ:CRUS) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,964 shares of the semiconductor company’s stock, valued at approximately $211,000.

Other hedge funds have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp purchased a new position in shares of Cirrus Logic in the 2nd quarter worth $1,101,000. Teachers Advisors LLC boosted its stake in shares of Cirrus Logic by 230.6% in the 2nd quarter. Teachers Advisors LLC now owns 397,156 shares of the semiconductor company’s stock worth $24,910,000 after buying an additional 277,015 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in shares of Cirrus Logic in the 2nd quarter worth $2,449,000. Principal Financial Group Inc. lifted its position in Cirrus Logic by 4.3% during the second quarter. Principal Financial Group Inc. now owns 276,706 shares of the semiconductor company’s stock valued at $17,355,000 after purchasing an additional 11,483 shares in the last quarter. Finally, State of Tennessee Treasury Department lifted its position in Cirrus Logic by 135.2% during the second quarter. State of Tennessee Treasury Department now owns 211,710 shares of the semiconductor company’s stock valued at $13,278,000 after purchasing an additional 121,710 shares in the last quarter. Hedge funds and other institutional investors own 89.67% of the company’s stock.

CRUS has been the topic of several analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $76.00 target price on shares of Cirrus Logic in a research report on Tuesday, September 19th. Northland Securities reiterated a “buy” rating on shares of Cirrus Logic in a research report on Friday. ValuEngine downgraded Cirrus Logic from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. Vetr upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 target price on the stock in a research report on Thursday, August 3rd. Finally, KeyCorp reiterated an “overweight” rating and set a $75.00 target price on shares of Cirrus Logic in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $67.05.

In other news, VP Andrew Brannan sold 21,504 shares of Cirrus Logic stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $55.10, for a total value of $1,184,870.40. Following the sale, the vice president now directly owns 21,504 shares of the company’s stock, valued at $1,184,870.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thurman K. Case sold 8,610 shares of Cirrus Logic stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $57.35, for a total value of $493,783.50. Following the completion of the sale, the chief financial officer now directly owns 3,880 shares in the company, valued at $222,518. The disclosure for this sale can be found here. Insiders sold 106,309 shares of company stock worth $5,986,496 over the last ninety days. Insiders own 1.92% of the company’s stock.

Cirrus Logic, Inc. (NASDAQ:CRUS) traded up $0.15 during trading hours on Monday, reaching $56.57. The company’s stock had a trading volume of 67,574 shares, compared to its average volume of 884,234. The company has a market capitalization of $3,591.99, a PE ratio of 12.88, a PEG ratio of 1.03 and a beta of 0.05. Cirrus Logic, Inc. has a twelve month low of $49.05 and a twelve month high of $71.97.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Thursday, November 2nd. The semiconductor company reported $1.36 EPS for the quarter, beating the Zacks’ 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 business had revenue of $425.50 million for the quarter, compared to analysts’ expectations of $410.32 million. During the same period last year, the firm earned $1.35 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. research analysts anticipate that Cirrus Logic, Inc. will post 4.25 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: “Sapphire Star Partners LP Invests $211,000 in Cirrus Logic, Inc. (CRUS)” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another site, it was stolen and republished in violation of United States & international copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/sapphire-star-partners-lp-invests-211000-in-cirrus-logic-inc-crus/1682545.html.

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)

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.