Cirrus Logic, Inc. (CRUS) Stake Lessened by Jane Street Group LLC

Jane Street Group LLC cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 88.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,594 shares of the semiconductor company’s stock after selling 82,106 shares during the period. Jane Street Group LLC’s holdings in Cirrus Logic were worth $409,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRUS. grace capital acquired a new position in shares of Cirrus Logic during the second quarter worth $115,000. Bank of Montreal Can increased its position in shares of Cirrus Logic by 88.7% in the 3rd quarter. Bank of Montreal Can now owns 3,388 shares of the semiconductor company’s stock valued at $131,000 after acquiring an additional 1,593 shares during the period. First Hawaiian Bank acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at $140,000. USA Financial Portformulas Corp acquired a new position in shares of Cirrus Logic in the 3rd quarter valued at $269,000. Finally, MML Investors Services LLC increased its position in shares of Cirrus Logic by 25.8% in the 3rd quarter. MML Investors Services LLC now owns 8,533 shares of the semiconductor company’s stock valued at $329,000 after acquiring an additional 1,750 shares during the period. 90.82% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CRUS opened at $35.81 on Friday. Cirrus Logic, Inc. has a one year low of $31.25 and a one year high of $55.13. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 9.70, a price-to-earnings-growth ratio of 1.22 and a beta of 0.63.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.74 by $0.34. Cirrus Logic had a net margin of 7.09% and a return on equity of 15.55%. The company had revenue of $366.30 million for the quarter, compared to analyst estimates of $330.27 million. During the same period in the prior year, the company earned $1.36 earnings per share. The firm’s revenue was down 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that Cirrus Logic, Inc. will post 1.86 EPS for the current year.

Several equities analysts recently issued reports on CRUS shares. TheStreet raised Cirrus Logic from a “c+” rating to a “b-” rating in a research report on Thursday, November 8th. MKM Partners cut their target price on Cirrus Logic to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, December 4th. Craig Hallum reaffirmed a “buy” rating and issued a $44.00 price target (down from $47.00) on shares of Cirrus Logic in a report on Tuesday, December 4th. BidaskClub raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Friday, November 16th. Finally, ValuEngine raised shares of Cirrus Logic from a “hold” rating to a “buy” rating in a report on Wednesday, December 5th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.44.

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About Cirrus Logic

Cirrus Logic, Inc, a fabless semiconductor company, develops, manufactures, and markets analog and mixed-signal integrated circuits (ICs) for a range of consumer and industrial markets. The company offers portable and non-portable audio, and other products. Its products include analog and mixed-signal audio converters, and digital signal processing products for mobile applications; codecs-chips that integrate analog-to-digital converters and digital-to-analog converters into a single IC; smart codecs, a codec with digital signal processer; boosted amplifiers; micro-electromechanical systems microphones; digital interface products; and standalone digital signal processors.

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

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