OxFORD Asset Management LLP Cuts Holdings in Cirrus Logic, Inc. (CRUS)

OxFORD Asset Management LLP lowered its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 8.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 100,905 shares of the semiconductor company’s stock after selling 9,716 shares during the quarter. OxFORD Asset Management LLP owned about 0.16% of Cirrus Logic worth $5,344,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fortaleza Asset Management Inc. acquired a new stake in Cirrus Logic during the second quarter valued at approximately $102,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Cirrus Logic by 72.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,590 shares of the semiconductor company’s stock valued at $138,000 after purchasing an additional 1,086 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Cirrus Logic by 96.2% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,798 shares of the semiconductor company’s stock valued at $157,000 after purchasing an additional 1,372 shares during the last quarter. ETRADE Capital Management LLC bought a new position in shares of Cirrus Logic during the second quarter valued at approximately $201,000. Finally, Sapphire Star Partners LP bought a new position in shares of Cirrus Logic during the third quarter valued at approximately $211,000. Hedge funds and other institutional investors own 89.26% of the company’s stock.

In related news, Director Christine King sold 5,000 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $57.42, for a total value of $287,100.00. Following the completion of the transaction, the director now directly owns 16,182 shares of the company’s stock, valued at approximately $929,170.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Bradley J. Fluke sold 7,325 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $53.44, for a total value of $391,448.00. Following the completion of the transaction, the vice president now directly owns 12,000 shares of the company’s stock, valued at $641,280. The disclosure for this sale can be found here. Insiders sold a total of 22,881 shares of company stock valued at $1,251,772 over the last three months. Corporate insiders own 1.92% of the company’s stock.

Several research firms have recently commented on CRUS. BidaskClub lowered Cirrus Logic from a “hold” rating to a “sell” rating in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $73.00 target price (down from $75.00) on shares of Cirrus Logic in a report on Wednesday, August 9th. Zacks Investment Research lowered Cirrus Logic from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $80.00 target price on shares of Cirrus Logic in a report on Friday, November 3rd. Finally, ValuEngine raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $67.05.

Cirrus Logic, Inc. (NASDAQ CRUS) opened at $50.40 on Wednesday. Cirrus Logic, Inc. has a fifty-two week low of $49.70 and a fifty-two week high of $71.97. The stock has a market capitalization of $3,240.00, a P/E ratio of 12.14, a P/E/G ratio of 1.39 and a beta of 0.01.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings data on Thursday, November 2nd. The semiconductor company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $410.32 million. During the same period in the prior year, the company posted $1.35 EPS. The business’s revenue for the quarter was down .7% compared to the same quarter last year. sell-side analysts anticipate that Cirrus Logic, Inc. will post 4.21 EPS for the current year.

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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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