Boston Advisors LLC Buys 9,264 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Boston Advisors LLC lifted its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 67.8% during the third quarter, HoldingsChannel reports. The firm owned 22,934 shares of the semiconductor company’s stock after purchasing an additional 9,264 shares during the quarter. Boston Advisors LLC’s holdings in Cirrus Logic were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its stake in shares of Cirrus Logic by 200.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,812 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 1,877 shares during the period. First Trust Advisors LP raised its stake in shares of Cirrus Logic by 4.8% during the 3rd quarter. First Trust Advisors LP now owns 44,085 shares of the semiconductor company’s stock worth $2,362,000 after purchasing an additional 2,033 shares during the period. Mackay Shields LLC raised its stake in shares of Cirrus Logic by 132.4% during the 3rd quarter. Mackay Shields LLC now owns 80,559 shares of the semiconductor company’s stock worth $4,316,000 after purchasing an additional 45,900 shares during the period. Comerica Bank raised its stake in shares of Cirrus Logic by 42.5% during the 3rd quarter. Comerica Bank now owns 47,560 shares of the semiconductor company’s stock worth $2,644,000 after purchasing an additional 14,178 shares during the period. Finally, California Public Employees Retirement System raised its stake in shares of Cirrus Logic by 13.0% during the 3rd quarter. California Public Employees Retirement System now owns 129,798 shares of the semiconductor company’s stock worth $6,955,000 after purchasing an additional 14,940 shares during the period. Institutional investors own 86.49% of the company’s stock.

Shares of CRUS opened at $72.26 on Friday. The business has a 50-day moving average of $59.49 and a 200 day moving average of $50.45. Cirrus Logic, Inc. has a fifty-two week low of $31.25 and a fifty-two week high of $72.73. The firm has a market cap of $4.16 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.77 and a beta of 0.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.63 and a current ratio of 3.38.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported $1.55 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.61. Cirrus Logic had a return on equity of 13.04% and a net margin of 9.81%. The company had revenue of $389.00 million during the quarter, compared to analyst estimates of $320.37 million. During the same quarter last year, the firm posted $1.08 EPS. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, research analysts predict that Cirrus Logic, Inc. will post 2.72 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the company. BidaskClub upgraded Cirrus Logic from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus lifted their target price on Cirrus Logic from $68.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Cirrus Logic in a research note on Monday, August 5th. Craig Hallum lifted their target price on Cirrus Logic from $42.00 to $52.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays upgraded Cirrus Logic from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $40.00 to $55.00 in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $59.89.

In related news, VP Scott Arnold Anderson sold 16,000 shares of Cirrus Logic stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $71.13, for a total value of $1,138,080.00. Company insiders own 2.79% of the company’s stock.

Cirrus Logic Company Profile

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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