BRYN MAWR TRUST Co reduced its stake in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 119,642 shares of the semiconductor company’s stock after selling 1,870 shares during the period. BRYN MAWR TRUST Co owned approximately 0.21% of Cirrus Logic worth $6,410,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CRUS. Hollencrest Capital Management acquired a new stake in shares of Cirrus Logic during the third quarter worth $206,000. Rhumbline Advisers lifted its holdings in shares of Cirrus Logic by 1.8% during the third quarter. Rhumbline Advisers now owns 189,112 shares of the semiconductor company’s stock worth $10,133,000 after buying an additional 3,262 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Cirrus Logic during the third quarter worth $3,156,000. Virginia Retirement Systems ET AL acquired a new stake in shares of Cirrus Logic during the third quarter worth $273,000. Finally, Cardinal Capital Management lifted its holdings in shares of Cirrus Logic by 1.6% during the third quarter. Cardinal Capital Management now owns 13,019 shares of the semiconductor company’s stock worth $697,000 after buying an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 85.95% of the company’s stock.
CRUS stock opened at $55.59 on Friday. The company has a market cap of $3.22 billion, a PE ratio of 27.27, a price-to-earnings-growth ratio of 1.78 and a beta of 0.85. The business has a 50-day simple moving average of $54.81 and a 200 day simple moving average of $48.36. Cirrus Logic, Inc. has a 52 week low of $31.25 and a 52 week high of $60.00. The company has a quick ratio of 3.18, a current ratio of 4.30 and a debt-to-equity ratio of 0.12.
A number of equities research analysts have recently weighed in on CRUS shares. Barclays raised 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 report on Thursday, October 17th. Craig Hallum reissued a “hold” rating and set a $42.00 target price (up previously from $38.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Bank of America reissued an “underperform” rating and set a $46.00 target price (up previously from $40.00) on shares of Cirrus Logic in a report on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a report on Monday, August 5th. Finally, Cowen reissued a “market perform” rating and set a $56.00 target price (up previously from $48.00) on shares of Cirrus Logic in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Cirrus Logic currently has an average rating of “Buy” and a consensus target price of $54.22.
In other Cirrus Logic news, VP Scott Arnold Anderson sold 19,818 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $54.78, for a total transaction of $1,085,630.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy R. Dehne sold 4,583 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $53.15, for a total value of $243,586.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 166,248 shares of company stock valued at $8,651,159. 2.79% of the stock is owned by insiders.
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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