ARP Americas LP Cuts Stock Holdings in Cirrus Logic, Inc. (NASDAQ:CRUS)

ARP Americas LP trimmed its position in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 47.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,285 shares of the semiconductor company’s stock after selling 6,541 shares during the quarter. ARP Americas LP’s holdings in Cirrus Logic were worth $450,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRUS. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Cirrus Logic by 175.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 7,854 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Cirrus Logic by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,062,569 shares of the semiconductor company’s stock valued at $87,566,000 after purchasing an additional 7,519 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $4,120,000. Norges Bank purchased a new position in shares of Cirrus Logic during the 4th quarter valued at approximately $80,559,000. Finally, Macquarie Group Ltd. increased its holdings in shares of Cirrus Logic by 7.9% during the 4th quarter. Macquarie Group Ltd. now owns 911,286 shares of the semiconductor company’s stock valued at $75,099,000 after purchasing an additional 66,900 shares in the last quarter. 86.53% of the stock is owned by hedge funds and other institutional investors.

Shares of CRUS stock traded up $1.36 during trading hours on Friday, reaching $68.53. 989,312 shares of the stock were exchanged, compared to its average volume of 638,274. The business’s fifty day moving average is $63.51 and its two-hundred day moving average is $69.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.10 and a quick ratio of 3.17. Cirrus Logic, Inc. has a 12-month low of $47.04 and a 12-month high of $91.63. The firm has a market capitalization of $4.00 billion, a P/E ratio of 25.86, a P/E/G ratio of 3.50 and a beta of 0.95.

Cirrus Logic (NASDAQ:CRUS) last announced its quarterly earnings results on Monday, May 4th. The semiconductor company reported $0.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.18. The firm had revenue of $279.29 million during the quarter, compared to the consensus estimate of $258.73 million. Cirrus Logic had a return on equity of 16.46% and a net margin of 12.45%. The firm’s quarterly revenue was up 16.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 earnings per share. As a group, equities research analysts predict that Cirrus Logic, Inc. will post 2.3 earnings per share for the current fiscal year.

In other news, CEO Jason P. Rhode sold 97,148 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $71.72, for a total value of $6,967,454.56. Following the completion of the sale, the chief executive officer now directly owns 308,444 shares of the company’s stock, valued at $22,121,603.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President John Forsyth sold 1,500 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $75.00, for a total value of $112,500.00. Following the completion of the sale, the president now directly owns 1,500 shares of the company’s stock, valued at $112,500. The disclosure for this sale can be found here. Insiders sold 110,648 shares of company stock valued at $7,966,155 over the last three months. Corporate insiders own 1.83% of the company’s stock.

Several equities research analysts recently commented on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cirrus Logic in a report on Monday, May 18th. Barclays cut shares of Cirrus Logic from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $75.00 to $60.00 in a research report on Monday, June 22nd. ValuEngine cut shares of Cirrus Logic from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. BidaskClub raised shares of Cirrus Logic from a “sell” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, TheStreet cut shares of Cirrus Logic from a “b-” rating to a “c” rating in a research report on Monday, June 1st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $80.13.

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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