Smith Graham & Co. Investment Advisors LP Has $8.70 Million Holdings in Cirrus Logic, Inc. (CRUS)

Smith Graham & Co. Investment Advisors LP lowered its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225,275 shares of the semiconductor company’s stock after selling 4,870 shares during the quarter. Smith Graham & Co. Investment Advisors LP’s holdings in Cirrus Logic were worth $8,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE boosted its position in shares of Cirrus Logic by 0.6% during the 2nd quarter. Bank of America Corp DE now owns 227,011 shares of the semiconductor company’s stock valued at $8,701,000 after acquiring an additional 1,254 shares during the last quarter. Aurora Investment Counsel boosted its position in shares of Cirrus Logic by 2.4% during the 2nd quarter. Aurora Investment Counsel now owns 53,598 shares of the semiconductor company’s stock valued at $2,054,000 after acquiring an additional 1,270 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Cirrus Logic by 88.7% during 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 last quarter. OppenheimerFunds Inc. boosted its position in shares of Cirrus Logic by 15.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 11,889 shares of the semiconductor company’s stock valued at $456,000 after acquiring an additional 1,597 shares during the last quarter. Finally, Meadow Creek Investment Management LLC boosted its position in shares of Cirrus Logic by 20.4% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 10,234 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 1,734 shares during the last quarter. Institutional investors and hedge funds own 88.60% of the company’s stock.

A number of analysts have recently issued reports on the company. BidaskClub downgraded Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Tuesday, July 3rd. Zacks Investment Research upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Susquehanna Bancshares lifted their price target on Cirrus Logic from $45.00 to $59.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Cowen lifted their price target 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. Finally, ValuEngine upgraded Cirrus Logic from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 25th. Five research analysts have rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $53.24.

Shares of NASDAQ CRUS opened at $35.91 on Tuesday. The stock has a market cap of $2.16 billion, a P/E ratio of 9.73, a PEG ratio of 0.89 and a beta of 0.41. Cirrus Logic, Inc. has a 1-year low of $34.49 and a 1-year high of $58.80.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings data on Wednesday, August 1st. The semiconductor company reported $0.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.36. The company had revenue of $254.48 million for the quarter, compared to analysts’ expectations of $231.38 million. Cirrus Logic had a return on equity of 17.46% and a net margin of 7.83%. Cirrus Logic’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period last year, the firm posted $0.81 EPS. As a group, research analysts anticipate that Cirrus Logic, Inc. will post 2.66 earnings per share for the current year.

In related news, Director Timothy R. Dehne sold 4,171 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is available through this link. Company insiders own 2.32% of the company’s stock.

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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