New Amsterdam Partners LLC NY Increases Stake in Cirrus Logic, Inc. (CRUS)

New Amsterdam Partners LLC NY lifted its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 12.2% during the third quarter, HoldingsChannel.com reports. The firm owned 80,040 shares of the semiconductor company’s stock after buying an additional 8,680 shares during the period. New Amsterdam Partners LLC NY’s holdings in Cirrus Logic were worth $3,090,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the company. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Cirrus Logic in the 3rd quarter valued at approximately $464,000. American Century Companies Inc. increased its position in Cirrus Logic by 43.6% in the 3rd quarter. American Century Companies Inc. now owns 174,139 shares of the semiconductor company’s stock valued at $6,722,000 after acquiring an additional 52,878 shares during the period. USA Financial Portformulas Corp acquired a new stake in Cirrus Logic in the 3rd quarter valued at approximately $269,000. Robeco Institutional Asset Management B.V. acquired a new stake in Cirrus Logic in the 3rd quarter valued at approximately $1,548,000. Finally, Acadian Asset Management LLC increased its position in Cirrus Logic by 4,851.1% in the 3rd quarter. Acadian Asset Management LLC now owns 9,209 shares of the semiconductor company’s stock valued at $355,000 after acquiring an additional 9,023 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.

Shares of NASDAQ CRUS opened at $41.49 on Thursday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 11.24, a PEG ratio of 1.08 and a beta of 0.45. Cirrus Logic, Inc. has a 1 year low of $34.49 and a 1 year high of $57.63.

Cirrus Logic (NASDAQ:CRUS) last issued its quarterly earnings results on Thursday, November 1st. The semiconductor company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The firm had revenue of $366.30 million during the quarter, compared to analyst estimates of $330.27 million. Cirrus Logic had a return on equity of 15.55% and a net margin of 7.09%. The firm’s quarterly revenue was down 13.9% on a year-over-year basis. During the same period last year, the company posted $1.36 EPS. On average, equities research analysts predict that Cirrus Logic, Inc. will post 2.57 earnings per share for the current year.

CRUS has been the topic of several analyst reports. BidaskClub upgraded Cirrus Logic from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Zacks Investment Research upgraded Cirrus Logic from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a research report on Tuesday, August 7th. Craig Hallum raised their target price on Cirrus Logic from $43.00 to $51.00 and gave the company a “buy” rating in a research report on Thursday, August 2nd. ValuEngine upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Tuesday, September 4th. Finally, Cowen raised their target price on Cirrus Logic from $40.00 to $44.00 and gave the company a “market perform” rating in a research report on Thursday, August 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $47.88.

In other Cirrus Logic news, Director Timothy R. Dehne sold 4,171 shares of the stock in a transaction on Sunday, August 26th. The stock was sold at an average price of $44.99, for a total transaction of $187,653.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.32% of the company’s stock.

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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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