Macquarie Group Ltd. grew its stake in Cirrus Logic, Inc. (NASDAQ:CRUS) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 788,297 shares of the semiconductor company’s stock after acquiring an additional 1,654 shares during the quarter. Macquarie Group Ltd. owned about 1.29% of Cirrus Logic worth $30,215,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Bank of America Corp DE grew its holdings 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 worth $8,701,000 after purchasing an additional 1,254 shares during the period. Kiwi Wealth Investments Limited Partnership boosted its holdings in Cirrus Logic by 14.1% during the 2nd quarter. Kiwi Wealth Investments Limited Partnership now owns 53,897 shares of the semiconductor company’s stock valued at $2,066,000 after acquiring an additional 6,669 shares during the period. Raymond James & Associates boosted its holdings in Cirrus Logic by 2.2% during the 2nd quarter. Raymond James & Associates now owns 91,304 shares of the semiconductor company’s stock valued at $3,500,000 after acquiring an additional 1,949 shares during the period. Krane Funds Advisors LLC boosted its holdings in Cirrus Logic by 50.9% during the 2nd quarter. Krane Funds Advisors LLC now owns 8,685 shares of the semiconductor company’s stock valued at $333,000 after acquiring an additional 2,931 shares during the period. Finally, OppenheimerFunds Inc. boosted its holdings in 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 period. 91.94% of the stock is owned by institutional investors and hedge funds.

Shares of Cirrus Logic stock opened at $38.90 on Tuesday. The stock has a market cap of $2.42 billion, a P/E ratio of 12.65, a PEG ratio of 1.00 and a beta of 0.39. Cirrus Logic, Inc. has a 12 month low of $34.78 and a 12 month 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 (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.36. The business had revenue of $254.48 million during 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%. The business’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. equities analysts anticipate that Cirrus Logic, Inc. will post 2.66 earnings per share for the current fiscal year.

CRUS has been the subject of a number of research analyst reports. BidaskClub upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a report on Thursday, July 12th. ValuEngine cut Cirrus Logic from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Zacks Investment Research upgraded Cirrus Logic from a “sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Bank of America raised their target price on Cirrus Logic from $28.00 to $33.00 and gave the company an “underperform” rating in a report on Thursday, August 2nd. Finally, Susquehanna Bancshares raised their target price on Cirrus Logic from $45.00 to $59.00 and gave the company a “positive” rating in a report on Thursday, August 2nd. Five equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $53.24.

In other news, Director Timothy R. Dehne sold 4,171 shares of Cirrus Logic stock in a transaction dated Sunday, August 26th. The stock was sold at an average price of $44.99, for a total value of $187,653.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 4,664 shares of company stock valued at $207,176 in the last quarter. Company insiders own 2.32% of the company’s stock.

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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