Martingale Asset Management L P Sells 5,395 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

Martingale Asset Management L P lessened its stake in Cirrus Logic, Inc. (NASDAQ:CRUS - Free Report) by 10.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,122 shares of the semiconductor company's stock after selling 5,395 shares during the period. Martingale Asset Management L P owned about 0.08% of Cirrus Logic worth $5,605,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in shares of Cirrus Logic during the 1st quarter worth approximately $278,000. Tidal Investments LLC bought a new position in Cirrus Logic in the first quarter worth $219,000. Comerica Bank boosted its stake in Cirrus Logic by 52.7% during the first quarter. Comerica Bank now owns 35,067 shares of the semiconductor company's stock worth $3,246,000 after buying an additional 12,101 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in Cirrus Logic by 139.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 1,994 shares of the semiconductor company's stock valued at $182,000 after buying an additional 1,162 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Cirrus Logic by 79.5% in the 2nd quarter. GAMMA Investing LLC now owns 474 shares of the semiconductor company's stock valued at $61,000 after buying an additional 210 shares in the last quarter. 87.96% of the stock is owned by institutional investors and hedge funds.

Cirrus Logic Trading Down 1.0 %

Cirrus Logic stock traded down $1.07 during mid-day trading on Friday, hitting $104.45. The stock had a trading volume of 373,956 shares, compared to its average volume of 518,601. The stock has a 50-day simple moving average of $113.90 and a two-hundred day simple moving average of $123.28. Cirrus Logic, Inc. has a 12 month low of $74.83 and a 12 month high of $147.46. The stock has a market capitalization of $5.55 billion, a PE ratio of 17.70 and a beta of 0.96.

Cirrus Logic (NASDAQ:CRUS - Get Free Report) last posted its earnings results on Monday, November 4th. The semiconductor company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.02 by $0.23. Cirrus Logic had a return on equity of 18.15% and a net margin of 17.19%. The company had revenue of $541.90 million for the quarter, compared to the consensus estimate of $520.53 million. During the same quarter in the prior year, the business earned $1.43 earnings per share. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts expect that Cirrus Logic, Inc. will post 5.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CRUS has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on shares of Cirrus Logic from $165.00 to $140.00 and set a "buy" rating for the company in a research report on Tuesday, November 5th. Barclays cut their target price on Cirrus Logic from $120.00 to $105.00 and set an "equal weight" rating for the company in a research report on Tuesday, November 5th. Loop Capital started coverage on Cirrus Logic in a research report on Tuesday, November 12th. They issued a "buy" rating and a $130.00 price target on the stock. Susquehanna lifted their price objective on Cirrus Logic from $135.00 to $140.00 and gave the company a "positive" rating in a report on Monday, November 18th. Finally, StockNews.com downgraded shares of Cirrus Logic from a "buy" rating to a "hold" rating in a research note on Wednesday, November 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $132.50.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.