SG Americas Securities LLC boosted its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 169.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,542 shares of the semiconductor company’s stock after buying an additional 14,812 shares during the period. SG Americas Securities LLC’s holdings in Cirrus Logic were worth $1,477,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in Cirrus Logic by 31.9% in the second quarter. Advisors Asset Management Inc. now owns 24,079 shares of the semiconductor company’s stock valued at $1,510,000 after buying an additional 5,828 shares in the last quarter. New Amsterdam Partners LLC NY boosted its stake in Cirrus Logic by 6.9% in the second quarter. New Amsterdam Partners LLC NY now owns 174,081 shares of the semiconductor company’s stock valued at $10,918,000 after buying an additional 11,271 shares in the last quarter. Rhumbline Advisers boosted its stake in Cirrus Logic by 0.5% in the second quarter. Rhumbline Advisers now owns 131,949 shares of the semiconductor company’s stock valued at $8,276,000 after buying an additional 697 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Cirrus Logic by 1.5% in the second quarter. Teacher Retirement System of Texas now owns 5,118 shares of the semiconductor company’s stock valued at $321,000 after buying an additional 76 shares in the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new stake in Cirrus Logic during the second quarter valued at about $4,204,000. 89.16% of the stock is currently owned by institutional investors.

Shares of Cirrus Logic, Inc. (NASDAQ CRUS) opened at 56.05 on Wednesday. Cirrus Logic, Inc. has a 52-week low of $47.01 and a 52-week high of $71.97. The company has a 50 day moving average of $60.05 and a 200 day moving average of $61.19. The firm has a market capitalization of $3.58 billion, a PE ratio of 13.11 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last announced its earnings results on Wednesday, August 2nd. The semiconductor company reported $0.81 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.15. Cirrus Logic had a return on equity of 26.71% and a net margin of 17.38%. The business had revenue of $320.70 million for the quarter, compared to analyst estimates of $320.32 million. During the same quarter last year, the firm earned $0.44 EPS. Cirrus Logic’s revenue for the quarter was up 23.6% compared to the same quarter last year. On average, analysts anticipate that Cirrus Logic, Inc. will post $4.74 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://www.watchlistnews.com/sg-americas-securities-llc-has-1-48-million-stake-in-cirrus-logic-inc-crus/1531007.html.

Several research firms have issued reports on CRUS. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 price target (down from $75.00) on shares of Cirrus Logic in a research note on Wednesday, August 9th. Zacks Investment Research cut shares of Cirrus Logic from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Vetr raised shares of Cirrus Logic from a “buy” rating to a “strong-buy” rating and set a $66.67 price target on the stock in a research note on Thursday, August 3rd. BidaskClub cut shares of Cirrus Logic from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Barclays PLC cut shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and set a $55.00 price target on the stock. in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Cirrus Logic currently has a consensus rating of “Buy” and a consensus price target of $68.59.

In related news, Director William D. Sherman sold 1,378 shares of Cirrus Logic stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $61.84, for a total value of $85,215.52. Following the sale, the director now owns 7,307 shares of the company’s stock, valued at approximately $451,864.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Andrew Brannan sold 21,504 shares of Cirrus Logic stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $55.10, for a total value of $1,184,870.40. Following the completion of the sale, the vice president now directly owns 21,504 shares in the company, valued at approximately $1,184,870.40. The disclosure for this sale can be found here. In the last three months, insiders sold 92,291 shares of company stock worth $5,236,046. 1.92% of the stock is owned by 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)

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.